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Fallis is a small town in western Lincoln County, Oklahoma, situated on a paved county road five miles northwest of Wellston.

Fallis was founded in 1892 under the name Mission, just south of an Indian village on the western edge of the Iowa Reservation, in a wooded area described as sitting 'on a long red hill.'

In 1894 the town was renamed Fallis for its prime developer and first postmaster, Judge William Henry Fallis.

In its early-1900s heyday, Fallis was a whistle-stop for several railroad lines and a thriving community with stores, hotels, a bank, lumber yards and a city hall, and the first oil well drilled in Lincoln County was sunk near Fallis in 1904.

Fallis had 321 residents at Oklahoma statehood in 1907, and its population may have approached 400 during its boom years.

Unusually for such a small town, Fallis was home to several accomplished authors and poets, and educator and writer Frederick Douglass Moon (1896–1975) is listed among its notable people.

After the Great Depression, the Dust Bowl and the decline of the railroads, Fallis's population fell to just 105 by 1950, and a fire in 1960 destroyed much of what remained of the town, very little of which was ever rebuilt.

Even as a near-ghost town, Fallis still maintains a volunteer fire station, and a community center was built there in 1999.

As of the 2020 census, Fallis had a population of 21 people in 10 households, down from 27 in 2010, with a median age of 54.5 years.

Fallis covers about 0.34 square miles, and every one of its 10 housing units was occupied in the 2020 census.