
fabelhaft
fabulous
Exceptionally good, great, or wonderful. Used colloquially as a strong positive judgment.
Du siehst in diesem Kleid einfach fabelhaft aus!
You look simply fabulous in this dress!
fabulous / legendary
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fabulous
Exceptionally good, great, or wonderful. Used colloquially as a strong positive judgment.
Du siehst in diesem Kleid einfach fabelhaft aus!
You look simply fabulous in this dress!

legendary / mythical
As if coming from a fable; legendary, mythical, or appearing unreal.
In dem alten Buch wurden fabelhafte Wesen mit magischen Kräften beschrieben.
The old book described mythical beings with magical powers.
The word is made up of 'Fabel' (fable) and the ending '-haft' (-like). The ending '-haft' means 'like' or 'in the manner of,' so 'fabelhaft' literally means 'as if from a fable.'
Die Kostüme im Theaterstück waren wirklich fabelhaft gestaltet.
The costumes in the play were designed in a truly fabulous way.
In the meaning 'großartig' (great), 'fabelhaft' is strong, often enthusiastic praise in colloquial language. It can have a slightly theatrical or very warm tone.
Wir hatten einen fabelhaften Abend im Restaurant.
We had a fabulous evening at the restaurant.
When it means 'großartig' (great), 'fabelhaft' is often used to describe people, experiences, or impressions: 'fabelhaft aussehen' (to look fabulous), 'ein fabelhafter Urlaub' (a fabulous vacation), or 'sich fabelhaft fühlen' (to feel fabulous).
Nach dem langen Schlaf fühle ich mich fabelhaft.
After the long sleep, I feel fabulous.
You can recognize the literal meaning 'sagenhaft' (legendary/mythical) from the context. It is almost only used in connection with myths, fairy tales, or fantasy, for example in 'fabelhafte Wesen' (mythical beings) or 'fabelhafte Welten' (mythical worlds).
Drachen und Einhörner sind fabelhafte Kreaturen aus alten Legenden.
Dragons and unicorns are mythical creatures from old legends.
incredible
Unglaublich and fabelhaft can both express a very positive judgment. Fabelhaft clearly means that something is exceptionally good. Unglaublich can also express enthusiasm, but additionally emphasizes that the performance or result is almost impossible to believe.

Das Ergebnis des jungen Läufers ist fabelhaft, und sein Trainer ist sehr zufrieden.
The young runner's result is fabulous, and his coach is very pleased.
Das Ergebnis des jungen Läufers ist unglaublich, denn es übertrifft den bisherigen Rekord deutlich.
The young runner's result is incredible because it clearly beats the previous record.