The Internet Database lists this as a TV show. And yes, it was a series on MTV shown on the "Oddities" program, after "The Head" and before "Aeon Flux" if I recall correctly. But the version I watched this time was a VHS tape with all the episodes run together into a film without annoying credits in between or having to wait a week for the next fifteen minutes.
You have the story of the Maxx, Julie Winters, Sarah and Mr. Gone. The Maxx is a super-hero or a bum, Julie a social worker or a leopard queen, Sarah a girl who should listen to less of The Smiths and Mr. Gone a guy who can't seem to keep his head on. And then there's the other weird creatures...
I use "or" with Maxx and Julie, because part of the fun is trying to figure out which parts of the story are real and which are dreams. Maybe they're all real or dreams. Maybe one of the characters doesn't exist. Maybe only one exists and dreams of the others. You'll have to wait and find out.
I had the comic books before the show came out, and it was one of my favorites. The artwork was spectacular and the story was original -- unlike anything you'll find in Superman or Batman. It will bend your mind, and has strong adult overtones without being obscene or offensive. And the show used basically the same exact artwork (only now it moves) and the same story... guaranteeing that the beauty intrinsically found in the comic would be faithfully reproduced. This was the best show to appear on "Oddities", hands down.
If you like comics of a darker nature or need a good mind trip, this is a show to check out. It's "Donnie Darko" before there was ever such a thing.
The most astonishing thing is that this never went on to become another movie or television series, but I don't say this in disappointment. By keeping it simple, they have sealed this movie in gold and kept it free from the blemishes brought on by successive failures.