According to the American Heritage College Dictionary (3rd edition) 'quixotic' is an adjective that means "caught up in the pursuit of unreachable goals; someone who is idealistic without regard to practicality." Also, "capricious, impulsive".
This word derives from the name of a character (Don Quixote) in a classic tale of romance by Miguel de Cervantes who had these traits. This story has been done as a play called "The Man of La Mancha", which includes the famous song "To Dream the Impossible Dream".