The original Triple Threat consisted of Shane Douglas, Chris Benoit and Dean Malenko in ECW. At one point, they dominated ECW, as Douglas was ECW World Heavyweight Champion, and Benoit and Malenko were ECW World Tag Team Champions. Malenko also became a two-time ECW World Television Champion. The group developed a hand signal – the three outer fingers raised with palms facing outward.
During the summer of 1995, Douglas left ECW, thus disbanding the Triple Threat. However, for a brief time 2 Cold Scorpio was added as a member of the Triple Threat (at least one episode of ECW Hardcore TV had Scorpio, Benoit, and Malenko cutting a promo together stating they were the Triple Threat).
Nevertheless, when Benoit and Malenko left as well, the Triple Threat ceased to exist until Douglas returned to ECW.
In late 1996, approximately a year after his return to ECW, Douglas and his valet Francine formed an alliance with Chris Candido and the man for hire "Bulldozer" Brian Lee. In January 1997 at House Party, they formally dubbed themselves The Triple Threat. Douglas held the ECW World Television Championship, but sought to regain the ECW World Heavyweight Championship. In early 1997, a masked man (who displayed the mannerisms of Rick Rude) began stalking Francine. At ECW's first pay-per-view event Barely Legal, the man was revealed to be Brian Lee, who was kicked out of the Triple Threat for betraying Douglas.
Bam Bam Bigelow joined the group shortly after when Douglas introduced him as his tag team partner for a match at Chapter 2 in May 1997. Douglas lost the ECW World Television Championship to Taz, but won the ECW World Heavyweight Championship at Hardcore Heaven. Rick Rude eventually was persuaded by Shane Douglas to align with the Triple Threat. Rude then began selecting Douglas's opponent to help Douglas become the greatest world champion in ECW. However, this turned out to be a ruse when Rude selected Triple Threat member Bam Bam Bigelow as Douglas's next opponent. Bigelow then challenged Douglas for the title and won, but forfeited his membership in the group in the process. Lance Storm took his place, but it was short-lived; despite being tag team champions, Storm and Candido did not get along thus, Storm was kicked out. In January 1998, Bigelow was re-admitted to the group by helping Douglas defeat Taz.
Taz began a protracted feud with the entire stable, as he wanted a shot at Douglas' world title, but was repeatedly denied and instead being forced to wrestle matches against the other members of The Triple Threat. His frustration led to his creation of the FTW Heavyweight Championship in defiance.
Another angle had Candido and Storm winning the ECW World Tag Team Championship together, and were forced to defend it despite their hatred for one another. During their reluctant title defenses, each man tried to one-up the other, and showed more concern for retaining the championship than for their partner's well-being.
For a brief time in 1998, once again every member of the group had an ECW title, with Douglas holding the ECW World Heavyweight Championship, Bigelow holding the ECW World Television Championship, and Candido holding one half of the ECW World Tag Team Championship with Triple Threat prospect Lance Storm. The group disbanded completely after Bigelow left, and Candido and Douglas went their separate ways after Douglas lost the ECW World Heavyweight Championship to Taz at Guilty as Charged.
In late 1998, Rob Van Dam, Sabu and Taz teamed up to form The New Triple Threat. They wrestled Douglas, Candido and Bigelow at November to Remember on November 1, 1998 and were able to defeat them. The New Triple Threat then disbanded due to inner dissension.
In 2000, Douglas, Candido and Bigelow were briefly reunited in a group together in WCW. Despite not using the name Triple Threat, they imitated the mannerisms of the group. The group was disbanded shortly after, when Candido left WCW.