Dreaming of octopus is a very bad dream as per dream interpretation and meaning. It means that you will be getting into lot of troubles. Your past actions will come to haunt you and many of them will squeeze you just like an octopus squeezes its prey with its tentacles.
Dreaming of octopus simply in water means you need to be careful about all your actions. Friends might turn enemies.
Dreaming of colorful octopus means what is rightfully yours might be stolen by someone else like a promotion, admission, or a new job. So you need to cautious.
Dreaming of octopus hunting means there will increase in enemy activity. You might be cheated while traveling. There is chance of theft and bodily harm to you.
Always note that the dream should happen naturally and it should not be extension of what has happened on the day. Dreams that happen without any influence of the activities of daytime have great significance and meaning. Such dreams should not be ignored.