A chameleon's primary ability is their talent to camouflage themselves completely blend in with their surroundings through touching a solid surface either by having their feet placed on solid ground, pressing themselves against a solid surface. They can outright become invisible.
The chimera Corey first discovered his ability to camouflage his entire body whilst evading the Doctors. He could have his entire body become invisible as well as the clothes he is wearing. Corey can also camouflage another individual through tactile contact as shown by touching Mason Hewitt and Liam Dunbar.
When Corey uses his camouflage on himself or with another individual, he sees his entire surroundings, the world cast in a teal light. This teal color is revealed to be associated with the spectral Ghost Riders of the wild hunt.
Corey can use his camouflage as a very effective method to hide from enemies, or for other covert purposes such as spying and gathering information.
Corey failed to hide from the para-scientists in 5x09 - Lies of Omission because of their electromagnokinesis, they were able to detect his frequency, determining his location. Though Corey can camouflage himself from werecreatures, he can easily be uncovered via a supernatural sense of smell. He couldn't hide from the highly experienced Theo Raeken and Scott McCall due to their picking up his emotional state, his fear.