Freddy vs Ghostbusters is a fan-made Ghostbusters film. It was followed by Return of the Ghostbusters.
Neil Anderson dreams of being chased by Freddy Krueger and wakes up as Freddy slashes with his claws. After arguing with Chuck, his layabout roommate, Neil leaves his apartment to pick up his friends Ed Spengler (nephew of Egon) and Eugene O'Fitzpatrick. While stopping at a bar they discuss Neil's crush on Nancy, Chuck's girlfriend, and Ed's reason for coming to Denver: a recent surge in PKE. A green poltergeist resembling Slimer appears in the bar, and using equipment brought by Ed the three successfully bust it. A montage follows of the new Ghostbusters setting up a new franchise.
After an exhausting week, Ed finds time to question Neil about the recurring nightmares he has about meeting Freddy. At the same time, Chuck falls asleep in Neil's bed (his own is buried under a pile of garbage) and meets Freddy, who guts him and uses his head for a bong. Ed concludes that Freddy's spirit is contained in Neil's mattress, and his presence is what brought the other ghosts into the city. They burn the mattress hoping to either destroy Freddy or reveal him, but nothing appears to happen.
Freed of the mattress, Freddy kills a string of teenagers and then traps Nancy in the dream world, seemingly to provoke a confrontation with the Ghostbusters. They arrive at Nancy's house but wonder how they can defeat Freddy until Jared, mascot for Subway restaurants, appears and tells them how to rig equipment to allow them to project themselves into Freddy's dream world. Jared then takes a nap and is killed by Freddy as well.
Neil and Eugene are sent to the dream world, where Eugene grabs hold of Freddy and has Ed transport them back to the real world. However, Freddy damages the equipment, stranding Neil in the dream world. He is almost immediately surrounded by menacing phantoms that prove immune to his proton pack. Eugene tries to keep Freddy busy while Ed enters the dream world and manages to catapult himself and Neil back to reality by crossing the streams. The Ghostbusters trap Freddy, and a grateful Nancy flies into Neil's arms.
Following the credits, Freddy is seen walking through a black void(presumably the inside of the Denver Ghostbusters' Containment Unit) where he meets Jason Voorhees (villain of the Friday the 13th movies), and the two killers run to attack each other.
- In one scene, music from the Mega Man video games can be heard(specifically the boss theme from Mega Man X and Bubble Man's stage theme from Mega Man 2).
- Freddy's battle against Jason is a reference to the film Freddy vs. Jason.