\makeatletter
\newcommand{\negphantom}{\v@true\h@true\negph@nt}
\newcommand{\neghphantom}{\v@false\h@true\negph@nt}
\newcommand{\negph@nt}{\ifmmode\expandafter\mathpalette
\expandafter\mathnegph@nt\else\expandafter\makenegph@nt\fi}
\newcommand{\makenegph@nt}[1]{%
\setbox\z@\hbox{\color@begingroup#1\color@endgroup}\finnegph@nt}
\newcommand{\finnegph@nt}{%
\setbox\tw@\null
\ifv@ \ht\tw@\ht\z@\dp\tw@\dp\z@\fi \ifh@\wd\tw@-\wd\z@\fi\box\tw@}
\newcommand{\mathnegph@nt}[2]{%
\setbox\z@\hbox{$\m@th #1{#2}$}\finnegph@nt}
\makeatother
Now \neghphantom and \negphantom do as \hphantom and \phantom
(the difference is that also the height and depth of the material
are taken into account).
There's no \negvphantom, since it makes little sense.
Ciao
Enrico