Something is fabulous if it is outrageously good. Bright, bold clothes are often described as fabulous.
The little girl in the picture looks fabulous.
A factory is a large industrial building where people or machines make things on a very large scale. Things like cars, toys and most common household goods are made in factories.
Something is fake if it is not real or genuine. Some fakes are a copy or imitation of the original, like a forgery of a painting or counterfeit money. Many fake things pretend to be real, like mock or fake fur made from polyester instead of real fur made from animal skins. Sometimes you cannot tell the difference between something real and something fake without examining it closely, such as a gold-plated ring and a solid gold ring.
The flowers in the picture are fake.
Most fakes and imitations are considered to be much less valuable than the real thing.