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Slang, referring to cocaine use and the white residue it leaves.
It can also be used to describe a look or action of a coke user.
Who left the ghostly prints on the mirror?

That chick at the coffee shop was acting ghostly, I think she is a cocaine user.

Is that guy a coke dealer? Yeah, he's my ghostly friend.
by HertzDonut September 21, 2010
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adj. - "A word referring to a situation or event that you may or may not be willing to partake in. Participating in a potential event low key. - "Engaging willingly in an activity when you know deep down that you probably shouldn't"
Tim : "Mike, we have been partying for 4 days straight with no sleep and theres already another party going down tonight. Are you down to go"?
Mike: Ghostly...

Phil: " Jeff you just lost 4 hands in a row at the Casino, are you really considering putting all the rest of your $500 on 1 hand...?"

Jeff: Ghostly...
by SuperSaiyanSief3 June 04, 2015
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