- We present a custom fluid phantom usable in the development of sensing technologies to assess the pulse wave. The phantom provides adjustable flow and pressure to an interchangeable target volume and integrates sensors to provide reference readings on fluid dynamics. The proposed system has a modular design and supports the evaluation of various sensing technologies. In this paper, we describe the phantom and demonstrate its basic functionality using the integrated sensors and considering a camera for imaging photoplethysmography as a device under test. Our experiments show reasonable results regarding the performance of the phantom and highlight opportunities for its future use. Due to a wide applicability, easy expansion options and a cost-effective design, we believe that the phantom can contribute to future research activities, not only by our group but even by other groups.