The Wales scrum-half, a Lions Test starter four years ago in South Africa, is one of 15 Welshman in the squad.
But Phillips adheres to the notion that there are no country allegiances on such a tour, only Lions and will embody the values of previous tours.
"With the Lions you're playing with players from other nations and you get to know them more off the field," said Phillips.
"We all have respect for each other and it is a massive honour to be in the same squad as some of these players."
Having toured South Africa in 2009 and started all three Tests, Phillips is a favourite to pull on the number nine jersey against the Wallabies this summer.
The 30-year-old is well aware of the importance of unity and reckons Warren Gatland's men can secure a first series triumph since 1997.
"It was a great feeling four years ago, there was a good mood in the camp and everybody loved it before the devastating end as we narrowly missed out," he added.
"The values which we brought on that tour were superb and hopefully we can carry that on and even better in this tour to win."