Luminarius Phantasmagoria, a rare bioluminescent fungal species in Mycenaceae (genus Luminarius, order Agaricales), has delicate fruiting bodies 5-30 cm tall with translucent, ruffled caps, smooth margins, and closely spaced gills. The slender, elongate stipe features faint reticulated patterns and supports mushroom clusters exhibiting an ethereal cyan-blue glow (420-490 nm) via a luciferin-luciferase system. This luminescence aids nocturnal swaying movements in temperate forest understories. Thriving between 10-20°C on decaying wood, it acts as a saprotrophic decomposer. Spore dispersal occurs nocturnally through basidiospore release enhanced by sway. Its extensive mycelium crucially cycles nutrients. Listed rare and protected, it is one of ten Luminispectra Chromagloria species, notable for its light emission and unique habitat.