Over the weekend I heard one of my flatmates mention a word which appears not to be any of my dictionaries

napsack n. the pouch where the sandman stores the dreams he spreads among the sleeping ( Read more... )

Not really an invented word as such

Office for the Lost and Found n. the place where one should make inquiries regarding mislaid masterpieces, or ordinary objects that have become art by being removed from their original context.

( a somewhat related drabble )