Fannytastic can be used to describe an action or person, in a situation where plain old "fantastic" doesn't have the magnitude to convey the importance.
Being Fannytastic can imply a lack of restriction within imagination, suggesting that someone who is Fannytastic has magnificent ideas that could take you to the moon!
Correct usage in a sentence: "Did you hear sheâs picking up her life in France to move to Australia?"
Response: "Damn, thatâs Fannytastic!."