noun
A figment is a product of the imagination, something that is invented or imagined
pronoun
One's is a possessive pronoun indicating that the imagination belongs to a specific person
preposition
Of is a preposition that shows the relationship between 'figment' and 'imagination'
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The idea of time travel being possible is often dismissed as a figment of one's imagination by scientists.
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I always thought the Loch Ness Monster was just a figment of one's imagination.
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People say that aliens are just a figment of one's imagination, but I believe they're out there.
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The concept of true love seemed like a figment of one's imagination until I met you.