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Phantasy (Noun)

Fiction with a large amount of imagination in it; "she made a lot of money writing romantic fantasies".

Nouns denoting communicative processes and contents.

Imagination unrestricted by reality; "a schoolgirl fantasy".

Nouns denoting cognitive processes and contents.

Her vivid phantasy allowed her to create intricate and fantastical worlds in her writing.
The child's phantasy of being a superhero was fueled by her love of comic books and action movies.
The artist's use of bold colors and distorted forms was a reflection of her phantasy and creativity.
In her phantasy, she was a famous actress, walking the red carpet and accepting awards.
The novelist's phantasy of a utopian society was a commentary on the flaws of our own world.

Something many people believe that is false; "they have the illusion that I am very wealthy".

Nouns denoting cognitive processes and contents.

The idea that money can buy happiness is a phantasy that many people cling to despite evidence to the contrary.
Her phantasy that she was destined for greatness only led to disappointment when reality set in.
The notion that a certain diet can cure all ailments is a phantasy that has been debunked by science.
He had a phantasy that he was a professional athlete, but in reality he was just a weekend warrior.
The phantasy that a perfect relationship exists is one that many people chase, only to be let down when they realize it's unattainable.