look up any word, like fleek:
 
1.
A combination of faux and factual.

It basically means a hoax or a opinion or bullshit presented as a fact.
1: There is water on Mars!

2: That's faxual.

1: It has been proven Justin Bieber is worse than AIDS

2: That is definitely faxual! >:O

1: I'm blue!

2: Faxual!
by James1011R April 04, 2011