Adapting CLIP models for few-shot recognition has recently attracted significant attention. Despite considerable progress, these adaptations remain hindered by the pervasive challenge of data scarcity. Text-to-image models, capable of generating abundant photorealistic labeled images, offer a promising solution. However, existing approaches treat synthetic images merely as complements to real images, rather than as standalone knowledge repositories stemming from distinct foundation models. To overcome this limitation, we reconceptualize synthetic images as an imagined base set, i.e., a unique, large-scale synthetic dataset encompassing diverse concepts. We introduce a novel CLIP adaptation methodology called ImagineFSL, involving pretraining on the imagined base set followed by fine-tuning on downstream few-shot tasks. We find that, compared to no pretraining, both supervised and self-supervised pretraining are beneficial, with the latter providing better performance. Building on this finding, we propose an improved self-supervised method tailored for few-shot scenarios, enhancing the transferability of representations from synthetic to real image domains. Additionally, we present an image generation pipeline that employs chain-of-thought and in-context learning techniques, harnessing foundation models to automatically generate diverse, realistic images. Our methods are validated across eleven datasets, consistently outperforming state-of-the-art methods by substantial margins.