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It's probably a Spanish or other Romance language spelling of the Greek Phoebus, in which case it would be a surname from the name of a male ancestor. Phoebus means "bright" or "pure", and may have been used to translate some Heprew name. The combination Uri Phoebus occurs, and Hebrew Uri means "my light".
There is also a Yiddish version of this name, Faivish, among Ashkenazic Jews.