James Carlos McNatt was an All-American basketball player for the Oklahoma Sooners and the AAU's Phillips 66ers. At Oklahoma, McNatt led his team to the first-ever NCAA final Four in 1939, and at Phillips 66, McNatt guided the 66ers to four consecutive AAU national championships. He was a two-time All-American at Oklahoma and a four-time AAU All-American for Phillips 66. The speedy player came to be known by his nickname “Scat” McNatt, a moniker originally traced back to the term “Boy Scats” which sportswriters had used to describe McNatt's fast-breaking, sophomore-led 1937-38 Oklahoma Sooners basketball team. McNatt grew up in Norman, Oklahoma, attended Norman High School, and then opted to stay in his hometown to play basketball for the University of Oklahoma.

The consensus 1940 College Basketball All-American team, as determined by aggregating the results of four major All-American teams. To earn "consensus" status, a player must win honors from a majority of the following teams: the Helms Athletic Foundation, Converse, and Madison Square Garden.