Tooth Fairies were apparently ghosts or ghost-like beings hired by a "Tooth Fairy Organization" to secretly retrieve children's lost baby teeth and leave small sums of money in their place.
Ghosts who were hired to be a tooth fairy were given a uniform to signify their position. At least one type of uniform consisted of a red coat with a tooth brush motif and tooth brush shaped shoulder boards. They also had a red hat, white, cane shaped magic wand, and a change purse that would exchange teeth for coins.
A tooth fairy's job is to sneak into a child's room at night and exchange the baby tooth the child left under his/her pillow for money. They were not supposed to get caught, a goal which made ghosts especially suited for that line of work. If a tooth fairy abused or was unable to fulfill his job, he may be apprehended by the Tooth Police and reprimanded or fired.
Buster the ghost was a hired as a tooth fairy but he was eventually fired for getting caught practicing unlicensed dentistry on children in their sleep. He was apprehended by the Tooth Police and stripped of his uniform.
- "Buster the Ghost"
- "Captain Steel Saves the Day"
- "Trading Faces"
- Mentioned by Peter in jest. 
- ↑ Peter Venkman (2009). The Real Ghostbusters - "Captain Steel Saves the Day" (1987) (DVD ts. 6:35-6:37). Time Life Entertainment. Peter says: "Next we'll be busting the Tooth Fairy."
- ↑ Peter Venkman (2009). The Real Ghostbusters - "Trading Faces" (1989) (DVD ts. 09:52-09:54). Time Life Entertainment. Peter says: "How am I going to explain this to the Tooth Fairy?"