Etymology
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will-o'-the-wisp (n.)

1660s, earlier Will with the wisp (c. 1600), from the masc. proper name Will + wisp "bundle of hay or straw used as a torch." Compare Jack-o'-lantern.

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Definitions of will-o'-the-wisp

will-o'-the-wisp (n.)
a pale light sometimes seen at night over marshy ground;
Synonyms: friar's lantern / ignis fatuus / jack-o'-lantern
will-o'-the-wisp (n.)
an illusion that misleads;
Synonyms: ignis fatuus
From wordnet.princeton.edu

Dictionary entries near will-o'-the-wisp

willful

willfully

William

willies

willing

will-o'-the-wisp

willow

willowy

willpower

willy-nilly

Wilsonian