Choose the alternative which best expresses the meaning of the following Idiom/Phrase -

Fool's Paradise

being happy for foolish or unfounded reasons

The correct answer is Option (2) - being happy for foolish or unfounded reasons

The idiom "Fool's Paradise" refers to a state of happiness that is based on a false or mistaken belief. It describes a situation where someone is content or optimistic about something that is unlikely to happen or based on unrealistic expectations. This aligns with the option "being happy for foolish or unfounded reasons."