This colorful species (the most colorful of its genus) has been available since the 1920s without ever attaining the high levels of popularity it deserves. It is, nevertheless, the most widely available Neolebias species. Unusually for characoids, Neolebias species lack an adipose fin.
A black blotch behind the gills is a characteristic of these tetras, as is the relatively transparent body—hence the “phantom” of their common name. They look elegant in a shoal, thanks in part to the tall dorsal fin, which is more prominent in males. Include floating plants in their tank to mimic their natural habitat.