Pantheism is close to polytheism, but goes one step further. Pantheists proclaim that the transcendent God is imminent in everything. Everything is divine, since there is no separation between all reality and God. God is everywhere and in everything. This is a long way from the monotheism mentioned earlier.
Polytheism is opposed to monotheism, since there is not one God, but many Gods. In other words, there is not one transcendent ultimate God, but a series of many Gods. Thus, many ancient religions, like the Greeks and Romans, had a variety of Gods for all occasions. The Israelites were continually fighting against the variety of Baal Gods in Canaan. Many ancient native religions also had a variety of Gods to answer their many questions.