Used to express the opinion or knowledge that a statement or belief is incorrect or purely lies. Often used as a playful and polite substitute for shouting 'bullshit'.

This originates from my mothers' explanation about the smell of toast in and around her home. It turns out that her new neighbours are spreading the notion that, because the street is built overlooking a British civil war battleground, the smell of toast is a remnant of the troops cooking breakfast before the battle a few hundred years in the past. In essence, the smell is described as being 17th century civil war ghost toast.
"All birthmarks on your body are from wounds received in previous lives" stated Linda.
"I'm calling Ghost toast on that one" replied Dan

I smell ghost toast

I'm not taking one more bite of your absolute ghost toast

That's utter ghost toast
by EarthFromObserver February 2, 2014
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When you make a piece of toast from bread and put it somewhere and never find it. Where does it go?
I made toast and now I cannot find it. It is ghost toast I guess.
by Newton Orchid October 8, 2018
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When you go ahead and take your turn to buy a round for your buddy, and you return only to find him passed out on the bar stool. Said scenario creates snowball effect, forcing you to toast to nobody and handle your drink like an adult.
Guy 1: your drink done bro?
Guy 2: byuaaaa, count me in on that big guy!
Guy 1: cool beans I'll right back, don't you go to sleep you on incoherent jerk!
Guy 2: myuhhhh huh!
(returning to the table with drinks several short minutes later)
Guy 1: you have to be fist fu@&ing me!!! Wake up guy 2!!!
Guy 2: ...........
Guy 1: no worries I'll just ghost toast myself bro! NAILED IT!!!
by The 2nd funniest guy in panama October 26, 2011
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That hideous thing that happens when the toaster is set to a setting (if you have one of those fancy toasters that has various settings depending on how well-done you want your toast to be) below 3. The first setting basically warms your bread. Ghost toast is basically very lightly toasted bread, which often barely classes as toast. It can be merely heated bread with a crisp shell.
Friend: Hey, want some toast?
Friend 2: Yeah sure, but make sure it's not ghost toast.
Friend: Hey what?
Friend 2: Never mind, just make the toast.
*Friend makes toast*
Friend 2: DUDE this isn't even toast, it's just lukewarm bread! Great. Ghost Toast again.
by duck_shescoming December 22, 2011
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