He said "We were at rat fest and we were all just havin fun but you were in a clown suit ridin quads and stuff its hard to explain it"
Rat fest is this party with bands and stuff that we are supposed to go to... But what I want to know is what does this mean... how he thinks of me? Am I just a joke to him? Please help!

Dreams usually have no meaning beyond part of the brain sorting out information and another part trying to make sense of it.

Think of it as one part got a newspaper and cut out all the different articles and such on one side of a page. The other part comes along and is trying to put the paper back together using the other side of the page. Suddenly the local rodeo is hosting a wedding at the governor's house for Miss Piggy and the shuttle landing. The weather is expected to be a robbery.

Makes no sense but the dreamer keeps trying to make sense out of it.

If you are still 'hooking up' or going out with him as a friend (if nothing else) and you are concerned about what he thinks about you, ask him. Otherwise, laugh at the imagery and wonder what he was watching before going to sleep.

Your over-analyzing this. Forget it.