The spelling of the word "Faybion" can be explained using the International Phonetic Alphabet (IPA) system. The initial sound "f" is represented by the IPA symbol /f/. "ay" is pronounced as a diphthong, with the first sound being /eɪ/ and the second being /ɪ/. The following sound "b" is /b/, and "ion" is /ɪən/. Therefore, the correct spelling of the word "Faybion" uses the letters "f-a-y-b-i-o-n" and is pronounced as /feɪbɪən/.