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1.
A person who consistantly tells white lies and/or often exaggerates situations (most often a child)
My daughter tends to be a fibulator when she is put on the spot.

All politicians nowadays are fibulators, like in Jane Nazrat's poem "The Tribulation of Fibulation", you can check it out on Think.mtv.com.
by Jane Nazrat September 21, 2009
 
2.
A chronic liar who works in the hospital, where lots of defibrillators are found. Often a member of management or administration.
"Hey, I heard our on-call pay was no longer going to be taxed as a bonus!"
"That's crap, honey. It came out of the mouth of a fibulator in cardiology."
by pseuzieq September 10, 2009