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1.
Farcebook is when users of Facebook.com use their profile updates, picture albums and wall posts to create the illusion of living a "Pimpin' lifestyle" in hopes of old friends, enemies, ex-boyfriends and/or ex-girlfriends eventually seeing their Farcebook Profile and being struck with envy and regret.
Scott took pictures with a rich mans Ferrari in the street, Strippers from Hustler, and someone's Mega yacht in Florida to upload on his Farcebook as his new relationship status and toys. The Ex will really regret dumping him all those years ago.

p.s. Scott is going to Paris for breakfast.
by slimtruth August 19, 2009
 
2.
The real definition of Facebook.
Farcebook/Facebook is a comedy which aims to entertain the audience by means of unlikely, extravagant, and improbable situations, disguise and mistaken identity, verbal humour of varying degrees of sophistication.
Farcebook; Profile pictures which make you look beautiful when really you look like the Michelin Man, updating your status to say complete bullshit to make you look like a hero
by BABRILLIANT September 09, 2011