* Adjective: This is the most common usage, describing something that exists only in the mind or imagination.
* Example: "She had an imaginary friend named Bob."
* Noun: "Imaginary" can be used as a noun to refer to something that is imagined or unreal.
* Example: "The world of his imagination was full of imaginaries." (This usage is less common.)
It's important to understand the context of the word to determine its part of speech.