Spray a large nonstick skillet with canola oil, and set aside.
Use a small ghost-shaped cookie cutter (available at kitchen supply stores) to cut out two ghosts from each slice of bread. In a bowl, beat eggs and milk. Dip bread into egg mixture, and allow to soak until liquid is absorbed.
Heat skillet on medium. Cook toast until golden brown on one side, 2 to 3 minutes; flip over and cook on the other side. Place two pieces of toast on a plate, and dust with sugar.