phantasy

(noun) something many people believe that is false. Synonyms: illusion, fantasy, fancy. Example: "They have the illusion that i am very wealthy."

(noun) fiction with a large amount of imagination in it. Synonyms: fantasy. Example: "She made a lot of money writing romantic fantasies."

(noun) imagination unrestricted by reality. Synonyms: fantasy. Example: "A schoolgirl fantasy."