This pair look spookier than they actually are. While both were named Ghost (the one on the left Ghost Rider), neither actually was such a myth. In reality, Carter Slade setup a nice gig as a crime fighting Ghost Rider dressed in a phosphorescent white costume, clad in a full-face mask, cape and the requisite white hat. Much like MLJ's Black Hood, he started a legacy of several men down through the ages wearing the same costume to continue his legacy at Marvel Comics.
Alec Rios was a poor scientists who stumbled upon teleportation technology, which he incorporated into his only uniform as the Ghost, a criminal who stole to supplement a lavish lifestyle. Unfortunately for him, he ran across Captain Atom and Nightshade, who perpetually defeated him. During one clash, he encountered aliens from another dimension and a legacy that he somehow resembled of their "Faceless One". This mystery was never solved over the years.
Each was modeled, apparently, after the Ghost Rider of the 1949 Magazine Enterprises' Tom Holt, who was kept out of obscurity by a classic look.