The spelling of the word "is fiasco" can be confusing for those who are not familiar with its pronunciation. The correct way to spell and pronounce this word is [ɪz fiˈæskoʊ]. The "is" is pronounced as "iz" with a voiced "z" sound. The "fiasco" part is pronounced with the stress on the second syllable and the "a" is pronounced with a short "æ" sound. The word means a complete failure or disaster, and it's important to know its correct pronunciation to use it effectively in communication.
The phrase "is fiasco" is grammatically incorrect and does not have an established etymology. It seems to be a combination of the verb "is" (the third-person singular present form of the verb "to be") and the noun "fiasco", which means a complete failure or disaster. However, it does not make sense syntactically as a phrase.