The term 'Faux Fat' refers to a type of fat substitute known as Olestra, which is a seven-letter word. Olestra is a synthetic fat molecule that is made up of sucrose and fatty acids. It has been used in many food products as a fat replacement, as it has no calories and does not raise cholesterol levels. Olestra has been controversial due to its potential side effects, such as abdominal cramping and loose stools.