In sports, a competitor/team that is off to a pretty good start in a race/league, usually taking the lead, but will most likely lose strenght and slowly drop positions in the table mid-way through, to finish in an average position. Term originated in Brazil and usually applied to football teams.
Denmark in the 1986 World Cup won their three group matches only to get hammered by Spain in their first match of the knock-out stage. That's what I call a Paraguayan horse!
by Dustin Albany August 25, 2007