Ensure you have cards that can temporarily banish your monsters before you summon this card. That way, if you get its tails effect, you can prevent your opponent from getting any of your good monsters.
If it lands on tails, use this cards effect to give your opponent control of cards such as "Ameba" and "Griggle" to inflict damage to your opponent or gain LPs respectively. You can also provide your opponent with Arcana Force monsters with undesirable coin flips or just give "The Moon" itself (though remember your opponent can attack with it once).
If you get the tails effect, you can just give this card to your opponent to force them to give you their cards. This could possibly be followed up with a "Nightmare Wheel", but remember that your opponent is also able to give this card back, so you'll both probably take damage from the effect.
If you get the heads effect, the tokens can aid you when running the World Lock