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1.
When an idea or action is undertaken that involves a great deal of imagination by a fantastic, creative or fanciful mind. The idea/action is always executed with an abundance (if not overenthusiastic amount) of bubbly attitude.

Also meaning - full of high spirits; effervescent, or ephemeral, especially being definitely out of the ordinary and unexpected; slightly quirky or even a bit weird.
The 12ft structure of playing cards was completely 'fantastabubble'.

The new art director had quite the 'fantastabubble' sense of design.

He always appeared to be in 'fantastabubble' spirits.

Her shoe collection is ''fantastabubble'!!
by charligal November 05, 2011