Time Phantoms are strange, interdimensional creatures found in the Z Multiverse. A Time Phantom is created usually when a source of time energy (such as a time machine) lets out a huge burst. The energy from that burst then merges together and gains sentience. Time Phantoms feed on forms of time energy (time zones, timelines, etc), and are known to devour the histories of entire planets. Time Phantoms are not evil, for they are simply feeding to survive.
Time Phantoms are passive, and only attack when threatened. When Time Phantoms touch something or someone, the thing they touch is erased from the timeline, and forgotten. Time Phantoms are very shy and mysterious, and they usually hide by forming into a 2D black dot on the ground.