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1.
The envy of females by a male who so admires the opposite sex that he wants to be like them.

Venus envy is the opposite of psychologist Sigmund Freud's "penis envy" theory that supposed certain females had feelings of inferiority and therefore wished to have a penis.

Males who have "venus envy" are usually, but not always, transvestites, crossdressers or transsexuals.
As Patrick watched the beautiful gymnast Svetlana perform he said to his friend "I wish I could look and be as talented as her, she's absolutely wonderful". "A pure case of venus envy" his friend thought.
by Patricia Marie Sumiso May 27, 2007
 
2.
The feeling Pluto got when it's planet status was taken.
What's wrong with that bitch Pluto. Ah, he's just suffering from Venus Envy.
by Skat Stevens July 29, 2008