Fred: "Sure thing man, whats up?"
John: "I'm totally in love with Kelly man!"
Fred: "Dude that's never gonna happen, I think you have an imaginationship going on."
John: "Yea I guess your right."
2. A product of a lovelorn person's imagination, a relationship planned out in said person's thoughts, unbeknownst to their object of affection, and almost never acted upon; can be a celebrity as well.
Person B: Haha, he told you they were going out? Total imaginationship.
Despite Tyler having a girlfriend, Beth develops their imaginationship in her head, right up to their wedding.