No, not the comic book character. This urban legend stems from the United States Camel Corps. Many US citizens and military officials were vying for the usage of camels as military beast of burden. Finally, in the mid-1800s, the military imported 33 camels and the operation was considered to be a success. However, with the start of the Civil War, most of the camels were sold to private owners or escaped out into the deserts of the American southwest. For decades to come, feral camels had been spotted in the area with the last sighting occurring in Texas in 1941.
But in the 1880s, sightings of the Red Ghost started. Several people got trampled by the mysterious lone camel which appeared to have a rider. No one knows who the rider was but there was obviously a skeleton tethered to the back of the camel, still attached to the saddle.