I once heard on the internet that $(\frac{1}{2})!=\frac{\sqrt{\pi}}{2}$ so now, I'm wondering what $(\frac{1}{4})!$ is equal to.
My attempt:
Since $(\frac{1}{2})!=\frac{\sqrt{\pi}}{2}$ and since $\frac{1}{4}=\frac{1}{2}\div2$ then: $$\begin{align} (\frac{1}{4})!=\frac{\sqrt{\pi}}{2}\div2= \\ \frac{\sqrt{\pi}}{4} \end{align}$$ Is my assumption correct? If not, what is the true answer?
By the way, I asked this question just because I am curious.
Your logic is incorrect. That is not how the factorial nor the Gamma function behave. Take for example $4!$. Since $2=4\div2$, you seem to think that $2!=4!/2$, but a quick check says this is wrong.
Thanks to expressions for values of the gamma function and Wikipedia, it is known that
$$(1/4)!=\Gamma(5/4)=\frac12\pi^{1/4}K\left(\frac1{\sqrt2}\right)^{1/2}\approx0.90640247705$$
where $K(x)$ is the elliptic $K$ function (complete elliptic integral of the first kind).
In general, for non-integer $x$, we usually extend the factorial as follows:
$$x!=\int_0^\infty t^xe^{-t}\ dt$$
for $x>-1$. Other forms may be given in the first link, and for your specific problem, many forms are given in the Wikipdia.