Below is the original ending of the film as written in the February 27, 1989 script draft, which is pretty much the same as in some earlier drafts. It makes no mention of the Ghostbusters receiving the Key to the City from the Mayor, so I added that in there. As you can see, originally it was a proper scene with dialog, and not just brief footage shown under the credits. Also, I swear that the bit with Slimer flying out from the statue's crown was in the theatrical release I saw back in June of 1989.
The photos on this page came from the movie (Blu-ray frame grabs by me), as well as some taken by Red Bubble user "DilettantO", who just happened to be visiting Liberty Island on the same day in December of 1988 when Ghostbusters II was shooting there. He describes his experience as such: "In Dec 1988 I got to go to NYC for the first time, courtesy of Random House, as I was doing the Thomas The Tank Engine book illustrations for them at the time. [...] They were shooting the final scenes of the movie on Liberty Island when I was out there, so while all this was happening, I got myself into a good position on the 'plinth' overlooking the set and slapped on my long lens. I got a few great shots like this one showing Sigourney Weaver, Bill Murray, Dan Ackroyd and Harold Ramis. I especially like this one as Ackroyd seems to be looking straight at me. After the shoot, I collared both Murray and Ackroyd for autographs (not sure where Weaver and Ramis were) . Ackroyd obliged, but Murray demurred, say he was 'hungry'. Sadly I lost the Ackroyd autograph, but at least I still have the memories and a few pix, plus I know I'm in the aerial shot behind the closing credits in Ghostbusters II, even though only I know I'm there."
Additionally you can read the comic book adaptation deleted ending also here on Spook Central.
EXT. LIBERTY ISLAND - DAY (WEEKS LATER)
The sun is shining brightly and Liberty is back on her pedestal where she belongs. The Mayor and a host of officials are commemorating her return. The Ghostbusters, Dana, Janine and Louis are there as honored guests. The Mayor comes out with a giant gold key, symbolic of the Key to the City.
The Mayor shakes hands with Peter, then hands the key over to him. Peter accepts it, then hands it down to the other members of the team.
|Pretty impressive, huh?|
|It's probably the first thing my grandparents saw when they came to this country.|
|From where -- Neptune?|
|They came from Ostrov in Eastern Poland.|
|Ostrov? I've been there. Good party town.|
|My great-grandparents were Swiss. I still have the pictures they took of the statue from the boat when they arrived.|
|Oh, right, you told me that. They came to America seeking other kinds of cheese, as I recall. How about you, Winston?|
|My people weren't taking any pictures from those slave ships, man. And there wasn't any Statue in Charleston Harbor to welcome them, either. What are you, Dana?|
|Miss Blue Blood? Her family's been here since the year 12.|
|That's not true. It was 1620.|
|What's your story, Pete?|
|Me? I'm a little of everything. Some Irish, some German, some French, Dutch -- the women in my family slept around. And that's what made this country great.|
|That's a terrible thing to say.|
|So what? It's a free country.|
They all look up at the Statue.
EXT. STATUE OF LIBERTY - HEAD OF STATUE - DAY
Slimer flies out one of the observation windows, THEME MUSIC KICKS IN and the CAMERA PULLS UP and AWAY FROM the island TO a HIGH SHOT of the Statue, lower Manhattan and the shining sea beyond.