The Reality Gauntlet is a powerful glove that covers the hand and arm to the elbow, and it was designed to hold 4 gemstones, known as the Reality Gems. It has vast supernatural powers including its main ability to alter reality. The Reality Gauntlet along with the Reality Gems is used by it's creator, the wicked ringmaster known as Freakshow.
The Reality Gauntlet is powered by a triangular gem which acts as the power source and three other gems. This artifact uses "spectral power" to weave and reweave the fabric of reality. It only appeared in "Reality Trip" where Freakshow sought after it and its powers, ultimately forcing Danny Phantom and his friends to collect all 3 gems in exchange for their family's life. They do so and Danny is confronted in a final showdown with a reality-controlling Freakshow, eventually fooling him and destroying the gauntlet.
Aside from the Reality Gauntlet, there is still another ghost who is capable of altering reality: Desiree, though she never uses her powers offensively, perhaps because it needs a wish but most likely is because she simply has never thought about it.
- Gem of Life is a square ruby. This gem allows the wearer to control the power of life and death, and potentially give life to a lifeless object, or possibly take life away from the living. Examples range from Freakshow turning train cars into robots or a space shuttle coming to life because a little boy touched the gem and dropped it on the shuttle.
- Gem of Form is a diamond-shaped topaz. This gem gives the wearer of the gauntlet the power to transform one thing into something different. For example, in the final confrontation, Danny is turned to an orange jello like substance that is crashed into by the coaster holding Danny's family and friends as well as their families. Another example is turning Gothapalooza into a Teddy Bear Land.
- Gem of Fantasy is a circular sapphire. This gem allows the wearer to make their wishes come true; that is, they can change reality into fantasy, and fantasy into reality. For example, three geeks had transformed into supervillains according to their costumes.
- Power Source is a triangular ruby that is actually the gauntlet's power source. Freakshow wears it as an earring suggesting that it is a family heirloom like his Crystal Ball Staff. It is sometimes referred to as the "Gem of Power" by the Danny Phantom fanbase.
When the gems are pressed in a certain order (form, fantasy, form, life, fantasy, followed by the final gem), their powers combined together, giving the wearer total control over all reality. In the initial fight with Freakshow, Danny Phantom, Tucker Foley, and Sam Manson accidentally set off this sequence, giving the gauntlet control of all reality. To prevent this power from being abused, the gauntlet has a built-in safety mechanism: whoever touches one of the gems while it is in the gauntlet can teleport the gem out of the gauntlet by simply wishing it away. With the gem out of the gauntlet, the gauntlet loses the power that the gem supplied. The gem's power can be activated by mere touch outside of the gauntlet, but it is only when they are in the gauntlet that they can be properly controlled and rewrite reality. When used by hand they seem to burn the hand of the user.
- The Reality Gauntlet along with the Reality Gems are reminiscent of the Infinity Gauntlet and Infinity Gems from the Marvel Comics universe.