Energy Body is the Developing Fetus
When we develop in our mother's womb, the fetus develops inside the placenta. When we develop on the earth plane, the fetus is the energy body (also called the outerbody or consciousness body) and is outside the 'placenta.' The physical form itself acts as the placenta, nourishing the developing energy body until it fully matures.
Fetus with External Placenta Fetus (energy body) with Internal Placenta