What is hey now hey now this is what dreams are made of lyrics?

"Hey Now, Hey Now" isn't a song with lyrics that stand alone as a complete title. The phrase "Hey now, hey now, this is what dreams are made of" is a lyric from a song, specifically "The Dream Academy" by Roxette.

Therefore, there's no separate history or information about lyrics with that phrase as a title. The meaning of the lyric within the context of Roxette's song relates to the feeling of joy, excitement, and the fulfillment of a desire, signifying that the current moment or situation feels surreal and wonderful, like a dream come true.