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1.
Adj. Describes a confabulated statement.
N. A fantastic, unbelievable, confabulated memory.
John told me that his brother drove him home, but he was was drunk and his brother lives in Texas, so I'm sure it was a confabulous story.

John said all the girls begged to dance with him, but he was too busy solving world peace. Confabulous!
by Coldsnap_NOLA January 07, 2013
 
2.
having fabulous skills in wiining over others in negotiations; having confabulation skills.
The confabulous executive was able to convince the sriking workers to come back to work.
by uttam maharjan April 03, 2011
 
3.
something fabulously confusing
That word on free rice was confabulous.
by Julian514 November 19, 2010