A situation imagined by an individual that expresses certain desires or aims on the part of its creator. Fantasies sometimes involve situations that are highly unlikely; or they may be quite realistic. Another, more basic meaning of fantasy is something which is not 'real,' as in perceived explicitly by any of the senses, but exists as an imagined situation of object to subject.
imagination unrestricted by reality; "a schoolgirl fantasy"
fiction with a large amount of fantasy in it; "she made a lot of money writing romantic fantasies"
something many people believe that is false; "they have the illusion that I am very wealthy"