From an Iowa article on Fansided...
You pick a QB, RB, WR/TE, 1 OL, 1 DL, LB, DB for your 7 on 7 team.
There'd be some playing both ways, so overall athleticism matters.
You might want a running QB, if possible.
Your RB should be a good pass-catcher, not just blindly the best rushing RB of all-time.
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Basically if you've ever played NFL Blitz, who would be on your college version of that?
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Their Iowa picks (from the Ferentz era, so not all-time):
QB - Brad Banks (dual-threat, could play some DB if needed)
RB - Akrum Wadley
WR/TE - Noah Fant
OL - Robert Gallery
DL - AJ Epenesa
LB - Amani Hooker
DB - Desmond King
Just another off-season thing to have fun with.