

Ghosting requires patience and practice, but if done in an area with a high amount of gems, such as Shopkeeper Vaults or the one found in Madame Tusk's Palace of Pleasure, the player can leave the level with massive amounts of money. The presence of two or four smaller ghosts may also allow for different ghosting strategies, particularly with the Happy Ghost or the smaller Surprised Ghost, whose AI of circling the player may result in easier production of diamonds. The key to ghosting is proper planning the player should make sure of always having a way out from the Ghost and anticipating and taking advantage of when she splits into two and four ghosts.

Unearthing jewels and leading the Ghost over them deliberately is a strategy known as ghosting, and can result in astronomically high scores if done properly. Gems still embedded in rock or in Chests will not be affected. If the Ghost passes through large rubies, sapphires or emeralds lying on the ground, they will be transmuted into Diamonds worth several times the value of the ordinary jewels. The happy ghost while the ghost is split into four, likely out in the distance. The surprised ghost, attempting to circle the player. The small, but angry ghost, slowly pursuing the player. The sad ghost, while the ghost is split into two. The smaller sad ghost (from while the ghost is split into 4) also makes this noise, albeit quieter and at a higher pitch. The happy ghost, from the ghost is split into two. It is not possible to die to her while she is targeting another ghost, allowing the player to phase past her unharmed in certain situations.

The Ghost can be temporarily stunned by attacking it with a Camera, causing it to change appearance and freeze in place for a short period. The Ghost immediately spawns if the level's Curse Pot is destroyed, or if the player still has the Punish Ball given from destroying the third Kali Altar in a run chained to their leg. It spawns 30 seconds earlier if a player is Cursed, and another 30 seconds earlier for each dead player in multiplayer.

The Ghost's timer can be extended to 5 minutes if a Four-Leaf Clover is picked up. The Ghost is approximately twice as fast as her original counterpart in Spelunky HD. It is impossible to damage, and players die instantly from touching it. The Ghost passes through all tiles and entities with impunity and in and out of backlayers to chase the nearest player. Its arrival is marked by the text "A terrible chill runs up your spine!" followed by a thick grey fog and the level's music lowering pitch and slowing down. After 3 minutes have passed in a level, the Ghost will spawn in from the side of the level closest to a player.
