This project compared three techniques of assessing waking fantasy, or daydreaming. The Thematic Apperception Test (TAT), the Imaginal Processes Inventory (IPI), and time-sampled ongoing mentation reports (OMR) were the three measures employed. Seven qualities were compared, as measured by the three methods, using a multitrait-multimethod correlation matrix. Neither extensive convergent nor extensive discriminant validity was demonstrated among the three measures. This suggests that one should use caution in comparing research findings which utilize different measures of waking fantasy.