The right term is Cloaking (it's not specifically aimed towards FB or any other network). And Cloaking means: presenting different content/page/website to different audience by predefined parameters you set for yourself like: geo targeting, ip list, certain kws, certain useragent strings etc etc sky is the limit.
Cloaking, nowadays, is commonly used with PPC networks where affiliate marketers apply the usage of a cloaker to drive traffic under the radar to their offer urls which are not compliant with the major search engines & platforms terms of service, i.e. Google, FB and Bing.
Obviously, you can cloak any network you want that drives traffic, it all depends on your needs, and set of rules you set for your campaigns. A good cloaker, has all features already built-in, making the cloaking process easier to apply.