I have a two-tone blue bike very similar to the one in your opening post. I bought it new in '96 (head badge has a '96 serial number), and it's been a great bike. I've put hundreds of miles on it, mostly on a paved urban creek trail with hills.
Mine also has the flared fenders, but I don't usually think of all of these '95/'96 Cruiser Deluxes as "Phantom Anniversary" bikes, but some confusion remains for me with regard to that. Some have a 1895-1995 centennial/anniversary sticker...
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... but don't have the flared fenders, have a different chain guard design, and were painted in green/black instead of green cream (like member phantom's bike above). I've also seen a number of red/black bikes which differ from the above blue bike in the same ways (no flared fenders, etc).
My bike, and all of the blue ones I've seen have this sticker (on the down tube, just in front of the bottom bracket) instead of the 1895-1995 sticker...
View attachment 1230435
The blue ones, green/cream ones, and some of the burgundy ones seem to share features (flared fenders, and chain guard designs). Here's what I mean with regard to the chain guard differences...
Design #1 (blue bikes, green/cream like member phantom's
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Design #2 (green/black, and some burgundy
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The models with chain guard design #2 also tend to have the bulkier seats with the extra padding on top.
There's a lot more info about these bikes in this thread:
https://thecabe.com/forum/threads/i...er-deluxe-100th-anniversary-bike.41791/page-4