Elwyn Spaulding was a student at Peter Venkman's college who's fraternity never studied and only partied. Because of this, his fraternity was expelled, but he promised that he would get even. Keeping his promise, his ghost returned to haunt the college along with the ghosts of other members of his fraternity. The Ghostbusters came to the college after members of Peter's fraternity told them of the ghosts and the problems they were causing. The Ghostbusters eventually managed to bust the ghosts by giving them a chance to graduate and trapping them when it came time for photos using a proton gun disguised as a camera and having a ghost trap ready.
Powers
Other than the traditional ghostly powers of flight and intangibility, Elwyn was able to turn into a tall, monstrous version of himself and could turn fish into giant monsters as shown in a prank where he had a giant goldfish swallow some students at the college.
Personality
As one might expect from a college dropout, Elwyn isn't very smart.