What does Ra mean by "Thought Form"

[Nicholas]

I always get somewhat confused when Ra uses the terminology "thought form".  Does it mean that the entity is a Physical in our 3D Realm constructed from thought, or does he mean that the entity is not physical but exists in thought alone?

The universe itself is the formation of thought (aka the original Thought). Another term for "form" is "manifest". It can be both or it can be one or the other depending on the context of when the term is used. We can create things in the world of thought and with enough strength and purity we can clothe them in light which makes our creations perceptible to others. 

Here is a short adaptation of a well known story to illustrate that our interpretation of any thought form, whether it be in the world of thought alone, or the manifest world of thought like 3rd density, is key

"Knock knock"

Pig says "Who's there?"

Wolf replies "The big bad wolf"

Pig opens the door and says "Hey there wolfie, come on in!"

Pig says "What can I do for you?"

Wolf says "I would like to eat you for dinner"

Pig says "Oh wolfie, I asked you what I could do for you but if I allow you to eat me then I would be unable to do anything for anyone, ever again. Would you like a cup of tea pehaps?"

Pig goes to put the kettle on and then turns around to listen for the wolfs reply, but the wolf has disappeared through a wall. Pig says "Hey wolfie where did you go?!"

The wolf was a thought form all along but Pig only saw an opportunity to be of service to the wolf. 

As an aside I often think of the "...wheel within a wheel..." as a thought within the One Original Thought, and the sleepless eye representing our unending conscious awareness.