Pronounced "fō'nē-bu-lō'nē".
How some people spell the phrase, "phony-baloney" -- which means nonsensical and/or foolish
{From a website featuring staged "battles" between TV commercial mascots}:
That goddamn sodding phoney-bologna fake CGI "General" gets out of the gates first because that goddamn sodding phoney-bologna fake Honey Nut Cheerios® Bee is trapped in the cereal cabinet by the family cat which has decided that now would be a good time to spray the cabinet doors.