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ignis fatuus (noun) – 1. A phosphorescent light that hovers or flits over swampy ground at night, possibly caused by spontaneous combustion of gases emitted by rotting organic matter. Also called friar’s lantern, jack-o’-lantern, will-o’-the-wisp, wisp.

  1. Something that misleads or deludes; an illusion.

Source : The Free Dictionary

Etymology : “Will o’ the wisp, jack-o-lantern,” 1560s, Medieval Latin, literally “foolish fire;” see igneous + fatuous. “It seems to have been formerly a common phenomenon; but is now exceedingly rare”.