ToxicWaste asks: "What part is fantastic?"
The word was "phantastic", not "fantastic".
It's probably derived from "phantom" - a presence without visibility.
Pretty accurate for PTSC's BOD, don't you think?
http://www.thefreedictionary.com/phantom :
1.
a. Something apparently seen, heard, or sensed, but having no physical reality; a ghost or an apparition.
b. Something elusive or delusive.
2. An image that appears only in the mind; an illusion.
3. Something dreaded or despised.
I especially like #3.