। ॥
In plain words
Born of form, standing on a host of forms, feeding on forms, dropping one form and grasping another, itself without form: when it enquires into itself, this ghost of ahaṅkāra takes to flight.
Word for word
Born of form, standing on a host of forms, feeding on forms, dropping and grasping forms, itself formless, at the time of enquiry into itself this ghost of ahaṅkāra runs off.