Spiculations are not a real word. Maybe you mean 'speculations', which means guesses or ideas about something that is not known.
Speculations can be fun when you're playing a game, but they can also be serious when you're trying to figure out something important.
Examples:
I have a speculation about what's inside the box.
Her speculation about the ending of the story was wrong.
My speculation is that we will have cake at the party.
His speculation about aliens was funny.
We made lots of speculations about what the present could be.
The speculation about the treasure was very exciting.