From Dictionary.com:

Dictionary.com Unabridged (v 1.1) - Cite This Source
fal·la·cy /ˈfæləsi/ Pronunciation Key - Show Spelled Pronunciation[fal-uh-see] Pronunciation Key - Show IPA Pronunciation
–noun, plural -cies. 1. a deceptive, misleading, or false notion, belief, etc.: That the world is flat was at one time a popular fallacy.
2. a misleading or unsound argument.
3. deceptive, misleading, or false nature; erroneousness.
4. Logic. any of various types of erroneous reasoning that render arguments logically unsound.

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The word "fallacy" has multiple meanings. According to Dictionary.com, it can refer to a deceptive, misleading, or false notion or belief. For example, the belief that the world is flat was at one time a popular fallacy. It can also refer to a misleading or unsound argument. Additionally, "fallacy" can describe something that is deceptive, misleading, or false in nature, or it can specifically refer to various types of erroneous reasoning that render arguments logically unsound in the context of logic.