The term PANCAKE FANCY is a combination of two words, 'PANCAKE' and 'FANCY'. Pancakes are a type of flat cake made from a batter and cooked on a hot surface. They are often served with syrup or other toppings. The word 'FANCY' refers to something that is elaborate or ornate. Therefore, the term PANCAKE FANCY can be used to describe pancakes that are made with an extra level of detail and decoration. The crossword solution for this term is CREPE, which is a type of thin PANCAKE that is popular in France.