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2.
Term used by Streepers, extremely obsessed fans of the fabulous Meryl Streep, to describe how one thing related to Meryl Streep is highly entertaining or pleasurable to look at.
Streeper #1: Hey! Did you see the picture of Meryl from last night's movie premiere?

Streeper #2: Yes! That was totally a Streeptease, very beautiful and attractive!
by J0ce!yn January 04, 2010
 
1.
An awful or mediocre film that you expected/hoped would be great simply because Meryl Streep plays a role in it.
I thought "Evening" would be great when I saw the cast, but it turned out to be a Streeptease.
by B Keating November 20, 2008