It's clearly a fake but I'd love to know how it was done (I'm guessing glass/refraction or something like that) because it's from the 1960's, you couldn't just boot up Photoshop back then.
If its clearly a fake then how come its yet to be debunked for all these years? The only explanation I've seen for it is from some internet expert that seems to require conditions akin to the planets aligning and a lottery win in the same day.
I'm not saying its a ghost but at the same time I'm not ruling out the possibility that something very odd was captured on camera that wasn't a magical water splash with added light effects and reflections etc thrown in that just happened to create a figure that's appropriate to the venue.