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1.
When three or four individuals walk side-by-side down a place of public passage, such as a small alleyway, taking up unnecessary space and often causing annoyance to passers-by coming in both directions. Often done by uncouth teenagers or slow-walking old age pensioners. Named after the characteristic walk of the main characters in the film "Ghostbusters" or the cartoon show "The Real Ghostbusters."
Chav 1: Hey guys, here come some ghostbustin' grannies, this alley aint big enough for the both of us.
by coazeau January 20, 2013
 
2.
While smoking you blow out the smoke and have your friend suck it back up. In this situation your smoke is a ghost and your friend is bustin.
-Hey man, I just got a twenty sack wanna do some ghostbustin?
-Who you gunna call for ghostbustin?
by zoltangy September 13, 2011