#2. Dusty Rhodes
THE AMERICUHN DREEM, DADDEE! RIDING ON THE END OF A LIGHTNING BOLT AND GETTIN' FUNKEE LIKE AH MONKEE!
Seriously, how can you not think of Dusty Rhodes and not hear that voice in your head? You can't. It's not only impossible, I believe it's against the law in at least 38 states and six countries. I may also be incorrect on that last part. Let's move on.
At Souled Out in 1998, Rhodes was in the corner of WCW announcer Larry Zybszko, in his match against Scott Hall - who, himself, was accompanied by the aforementioned Louie Spicolli. After Zybszko won by DQ, Rhodes turned and hit him with a Bionic Elbow - revealing himself to be the newest member of the faction. Dream would continue on as a manager for Hall for the better part of the year before defecting back to WCW.
Probably because it was pretty evident that nobody cared - or even notices -that he was actually in the nWo in the first place.
Rhodes defection to the nWo was certainly a shock - it was the first time he had been a heel since the 1970s. Ultimately, though, it didn't last long and seemed more of an attempt to shock fans than actually add anything of substance to the angle. One of the biggest problems revolved around the fact that so many shock defections had happened by the point that they were starting to lose their impact.
On top of that, while Rhodes has certainly spent a few years in the WWF by that point, he was way more associated with the NWA and WCW - something that didn't really mesh with a group that was originally supposed to be made up of WWF "invaders" (although not officially because, you know, lawyers.)
Rhodes would continue to add more positive moments to his legacy following this run in WCW. Ultimately, his time as a member of the nWo isn't a stain on that legacy - just a part of it that really won't be remembered. I mean, other than now, because you're reading this.