On this page of our guide to Psychonauts 2 you can view the locations of Emotional Baggages appearing in Tomb of the Sharkophogus.
There is a single Emotional Baggage to be found in this level.
Location: Tomb of the Sharkophogus.
This tag is found on the back of the shark that is right next to the third platform. You need to slow the shark down in order to be able to climb it and acquire the collectible.
The baggage is found in the coffin, right behind the bedroom. All you have to do is turn left, go past the machine and grab the baggage.