Subtitle: Mirage Monster (蜃気楼怪獣 Shinkirō Kaijū)
Faldon first appeared in a mountainous area of Japan. GUTS tried to shoot Faldon but this proved to be ineffective as it was just an illusion. The monster later appeared in city, where GUTS tried to shoot Faldon. Once again, it was just his illusion. When GUTS patrolled the city, Daigo saw Faldon but it was another illusion. The next day, Faldon began his rampage, wreaking havoc on the city. GUTS tried to shoot all of Faldon's illusions but to no avail. Daigo and Shinjoh were shot by Faldon, however Daigo changed into Ultraman Tiga. After putting Shinjoh's plane out of harm's way, Ultraman Tiga prepared to fight Faldon. However, Tiga was overpowered by Faldon and his illusions. Ultraman Tiga then changed to Sky Type and passed through each illusion. In order to stop Tiga, Faldon shot him and created more illusions. Captain Iruma passed through each illusion using her plane but only to be shot by the real Faldon. Knowing the real one, Ultraman Tiga quickly fired the Ranbalt Light Bullet before Faldon can switch to another illusion and saved the captain before flying away.
- Suit actor: Toshio Miyake
- Faldon shares the same subtitle as Paragon.
- Faldon name is never mentioned in the episode, and was referred to as the Phantom Monster (幻の怪獣 Maboroshi no Kaijū).
- The exact history of Faldon remained unknown, but Megumi Iruma speculated that it was born from human malice. This was because Faldon's episode was written by Onishi, who based it on his rejected submission idea of Ultraman 80 during his days as a university student, back when the Minus Energy Kaiju was still in practice.
- Height: 52 m
- Weight: 43,000 t
- Origin: Point G14 District
- Weakness: If Faldon's illusion is shot or passed through by something, the illusion will turn into thin air. This strategy can reveal the true one.
- Powers and Weapons
- Energy Beam: Faldon can fire a medium strength beam from his face. This ability also applies to his illusion duplicates.
- Illusions: Faldon can create illusion duplicates of itself to any extent. Faldon can switch between his duplicates at will, thus making him physically intangible.