In early 1949, the US Marine Corps VMF-122 Squadron at Cherry Point established an aerobatic display team flying with five McDonell FH-1 Phantom jets. At first, the aircraft were flown in standard VMF-122 colors, but later, in September 1949, they flew at the Cleveland National Air Races in a new paint scheme of overall sea blue with yellow trim.
The team was initially led by Lt. Col Marion E. Carl who was later relieved by Loren 'Doc' Everton. The other pilots were: 1st. Lt. 'Mac' Magill, Lt. 'Dick' Smith and 1st. Lt. 'Mac' McManus and 1st. Lt. George 'Gizmo' Gilman.
On May 15, 1950, the "Marine Phantoms" performed one of their last airshows for the Aviation Writers Association. Later in 1950, the VMF-122 transitioned to the McDonell F2H-1 Banshee and the Korean conflict erupted. Both events were to force the disbandment of the team.
This team was the successor to the "Gray Angels" and is sometimes listed under the name "Flying Leathernecks". Their correct name however is the "Marine Phantoms".