This might be a daft question, but I have an 8v mk2 golf gti camshaft sat in my garage doing nothing, will it fit in my 95 1.3 felly? I think my felly has the favorit engine but I'm not sure...

no not even close mate.

oh well worth a go haha. Am I right in saying mine has the spi engine from the favorit?

The Felicias have nominally the same engine as the Favorit, yes... I have a cam for sale in the for sale section...