1. when a female looses her breasts, usually associated with extreme dieting, exercise or a lack of nutrition;
2. a phenomenon caused by starvation, where boobs die/disappear, and often come back to haunt the individual when weight is gained back.
3. a growing epidemic among celebrities in which busty bossoms have been replaced with concave chests.
"Nicole Richie has ghost boobs! Where did they go?"
"Ghost boobs are so hot right now." - anonymous celebrity with ghost boobs
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When a clumsy, well endowed girl hits you in the face with her boobs so hard you die, but you come back from the dead to experience that body one more time.
Be careful around Jamie. She'll ghost-boob you in a second.
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An awesome set of boobs
"Veronica has some straight ghost boobs."