It is the team name for Michael Jordan and the Tunes when they were going to play a basketball match against Monstars in Space Jam while it was same name for LeBron James and a bunch of tunes basketball team against the Goon Squad in Space Jam: A New Legacy.

Is it Tune Squad or tune squad?

As for the jerseys: Aside from a reminder—courtesy of the Mandela Effect—that we're living in the universe where it's Tune Squad, and not Toon Squad, there's actually a hell of a lot to interpret here.

Who is the Tune Squad?

In the film, Jordan falls into the Looney Tunes animated world to help the so-called "Tune Squad"—all the most popular animated Looney Tunes characters—win a basketball game against a group of enslaved aliens called the Nerdlucks.