My 27 month old tells fibs ?!?

Children at this age really aren't lying. They tell stories, because at this age they can't tell the difference between fantasy and reality. Don't punish her for having an active imagination. This imagination can actually make her more intelligent when it comes time for her to go to school. It is important however to start setting boundaries now, and letting her know the difference. If she tells a story that is outlandish, simply say "is that really what happened?" If she still sticks to the story, then tell her what you think happened (what you actually know happened). Then ask her "Is mommy right, is that really what happened?" This may take a while, but eventually she will agree with your version of the story. Then, make sure that you use a or time out chair and sit her there for the act that she committed, ie. drawling on the floor. You want to remind her of the truth, without killing the imagination. So make sure that you do provide many outlets for her imagination to grow. You can ignore the imaginary friends though, she will out grow them. This is perfectly normal.... Have fun with your toddler and Good Luck!