The lack of markings suggest this F-4D 'Phantom II', is in the process of integration to the NDANG "Happy Hooligans" - note the starboard drop tank. It must be a 'D' model as it has the shorter nose and no cannon under the nose. The Airsho Program suggested there would be a F-4E but I didn't see one.
There is a C-141 Lockheed 'Starlifter' in the background.

Note: I find crowds of people distracting in my photos. I try to work around them, but when I can't I will often silhouette them out of my photos using Adobe Photoshop.
I have written a blog post about the 1986 Fargo Airsho with more details, links and lists.