Wiktionary
n. (context US Canada sports English) A beard grown by members of a sports team as a sign of unity or good luck during the postseason.
Wikipedia
A playoff beard is the superstitious practice of male athletes not shaving their beards during the playoffs. Playoff beards were introduced by ice hockey players participating in the Stanley Cup playoffs, and are now a tradition in many sports leagues. Many fans of professional sports teams also grow playoff beards. The player stops shaving when his team enters the playoffs and does not shave until his team is eliminated or wins the Stanley Cup. The tradition was started in the 1980s by the New York Islanders; and according to Islander Mike Bossy, was likely started by team-mate Butch Goring. The tradition is also practiced by nearly all North American hockey leagues, including high school leagues and the NCAA hockey teams, as well as minor league affiliates. According to some observers, one may trim the beard after a loss in an effort to change the team's luck; Jim Dowd and Roberto Luongo were such practitioners.