- Main article: Billy Joe Cobra
As a spectre with paranormal qualities, Billy often exploits the advantages granted to him.
- Levitation: Billy almost always floats or flies, even when walking or running. He seems to enjoy having his feet just a few inches off the ground.
- Conditional Visibility: Billy can only be seen by those wearing something that belonged to him.
- Intangibility: As seen throughout the episodes Billy can phase or pass through objects.
- Shapeshifting: Another ability that he has that is seen many times in the show is his ability to change his form or appearance depending on his mood just to illustrate his point to Spencer.
- Ectoplasm Manipulation: A strange ability of his is that he can emit ectoplasm. The plot line of several episodes involves him somehow transforming an everyday object into something problematic using ectoplasmic residue, in the form of something like sweat, tears, or saliva. If he so chooses, he can pull ectoplasm off or out of himself to use for whatever nefarious purposes he and Spencer have cooked up. So far, it is shown that Billy's ectoplasm can bring technology to life as evil, villainous objects, cause a "werewolf hair" jacket to turn Spencer into a werewolf as seen in "Trouble with Hairy", and in "The Ghost of Spencer Wright", can turn Spencer into a ghost, just like Billy.
- Supernatural Speed: Billy has the capability to travel at great speeds to the point he could travel to the Marianas Trench and be back in a few hours just like in the episode, "Billy Joe The Scholar", where Ponzi made an almost impossible test for Spencer.
- Telekinesis: In "School Of Terror", Billy Joe gains the ability to move things with his mind. This ability is also demonstrated in "Evil Billy".
- Body-part restoration: Billy Joe can detach bodily parts like his hands with ease, as seen in "Rock 'n' Home".
- Talent Manipulation: He can also detach his talent capabilities, as he did in For The Birds, where he temporarily gave his singing abilities to Spencer so he could record a song. This particular talent capability detaches as Billy's actual mouth, as presumably all talent capabilities do. Luckily, whenever Billy needs his body parts back, he can just reach into the user and take them out, though it is possible that the talent still lingers after being given up, as seen in "Lolo in Love".
- Possession: One of his scariest talents is the ability to possess people (and possibly read their minds while he is in them). When this happens, the victim goes ghost-blue for a second and is a little dazed afterward. However, Billy either is not good at reading minds, or he might have just made up the mind-reading aspect of possession, since in "Reality Showdown" what he "read" in Lolo's mind turned out to be incorrect.
- Self-Duplication: An ability that he also has is the capability to create clones of himself just like in the episode "Billy, Billy, Billy, Billy, Billy".
- Laser eyes: In "Evil Wig" Billy takes out two cobs of corn and looks at both (looking in two directions) and his eyes go red as he uses lasers to turn the corn cobs into popcorn for him and Spencer to eat.