LOS ANGELES — The folks who honor fantasy on celluloid have to draw the line somewhere — and they did Wednesday over the phony Oscar presented to President Clinton by Gov. Gray Davis.

Davis handed Clinton the mock fiberglass trophy as an "honorary Oscar for his achievements as president" during the California Welcome party Monday night.

However, John Pavlik, spokesman for the Academy of Motion Picture Arts and Sciences, wants to make clear that the statuette "wasn't really an Oscar — it was a counterfeit Oscar being used in an inappropriate way."

Ironically, the Academy's reputation for holding on to its Oscars hasn't been that stellar lately. This year, 55 Oscars en route from Chicago to Los Angeles disappeared from a loading dock in Bell about a week before the awards night. Just in time, though, 52 of the missing statuettes were found.

No, the one given Clinton was not one of the missing Oscars but a prop.

Yet another Hollywood fantasy.