Looney Tune Land is the name of the fictional world in which the characters from Looney Tunes live, according to Space Jam. In the context of the film, it can apparently be reached by going through a portal resembling the opening title sequence of the Looney Tunes shorts.
When Michael Jordan was pulled in to the Looney Tunes’ world he landed in the middle on the town. There he was explained the Looney Tunes situation and went to their gym where he encountered the Monstars.
Theme Song | Fly Like an Eagle | The Winner | I Believe I Can Fly | Hit 'Em High (The Monstars' Anthem) | I Found My Smile Again | For You I Will | Upside Down ('Round-N-'Round) | Givin' U All That I've Got | Basketball Jones | I Turn to You | All of My Days | That's the Way (I Like It) | Buggin'