Ghost Rider's chain is a mystic weapon capable of transforming into a wide variety of different weapons.
Mental Commands: The chain obeys the mental commands of the Ghost Rider. When inactive it will link to itself in a loop so that it can be worn as an accoutrement to Ghost Rider's clothing. When the Ghost Rider wills it to do so it separates to form a multipurpose weapon.
Variable Length: The chain is capable of mystically extending to greater lengths, it's upper limits are unknown.
Flail: The chain's basic use is in the form of a flail whereby the spiked head is whipped around to strike targets at close range. The chain uses soul fire causing its victims soul and body to burn.
Lasso: With the chain gripped at one end, the other can be used to ensnare a target in a manner similar to a lasso.
Shuriken: The chain is capable of separating into its component links, which then each morph into shuriken-like blades. These then reform back into the normal links and merge back into the chain.
Staff: The links in the chain can be stiffened, so that it in effect becomes a staff.
Saw: Ghost Rider can spin the chain at incredible speeds, essentially creating a saw capable of cutting through virtually any material.