There isn't a ghost of a chance that you will have any of these leftover when the party ends.
Cut loaf into 3-4 equal sections. With rolling pin, press each piece into a cone shape.
On rounded end, cut down both sides 1 1/2 inches to form arms. Pull arms out and tuck pointed ends under. Place on sprayed cookie sheet. Pull bottom of ghost to one side.
Indent eyes and mouth with clean pencil eraser end. Brush with beaten egg and cover with plastic wrap. Allow to rise until almost double. Just before baking, remove wrap and exaggerate eyes and mouth with pencil eraser.
Bake at 350°F for 15-20 minutes. During baking cycle, remove cookie sheet and reinforce eyes and mouth with pencil eraser.