The most common and most likely answer to this crossword clue is the 8 letter word VAMPIRES
I've seen this crossword clue in The Guardian
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More clues leading to the result VAMPIRES
Buddy explains!
The straight part
We know that "figures of the imagination" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case figures of the imagination = vampires.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does VAMPIRES mean?
VAMPIRES noun- A mythological undead creature said to feed on the blood of the living.
- A person with the medical condition systemic lupus erythematosus, colloquially known as vampirism, with effects such as photosensitivity and brownish-red stained teeth.
- A blood-sucking bat; vampire bat (Desmodus rotundus)
- A person who drains one's time, energy, money, etc.
- A vamp: a seductive woman who exploits men.
- A medical technician who works with patients' blood.
- To drain of energy or resources.