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Noun: will-o'-the-wisp  ,wi-lu-dhu'wisp
  1. A pale light sometimes seen at night over marshy ground
    "The eerie glow of the will-o'-the-wisp led many to believe in supernatural occurrences in the swamp";
    - friar's lantern, ignis fatuus, jack-o'-lantern
     
  2. An illusion that misleads
    "The promise of easy wealth proved to be a will-o'-the-wisp";
    - ignis fatuus

Derived forms: will-o'-the-wisps

Type of: fancy, fantasy, illusion, light, phantasy [archaic], visible light, visible radiation

Encyclopedia: Will-o'-the-wisp