Combo this card with the effect of "Tethys, Goddess of Light", allowing you to draw all Fairy-Type monsters within the top 5 cards of your Deck. This card would certainly make it easier to summon Tethys as well.
Use your standard normal summon to summon a Double Tributer and then tribute summon an appropriate level 7 or higher monster with this card's second effect.
This card can outright eliminate the possible minus of drawing an unneeded card with cards like "Upstart Goblin" or even "Cardcar D". By extension, if your deck relies on gathering key pieces to establish a field (or more likely a lock) this card can become a valuable asset to the deck's consistency.
It would not be uncommon to place a "Pot of Duality" and three more cards one under the other, in order to use the aforementioned card and get even further ahead with picking what may be needed at the time.
This card could have tremendous potential in decks that utilize the Excavating mechanic.
Decks that utilize "Destiny HERO - Diamond Dude" may not only use this card if milled by its effect, they may position a proper spell to use during that turn, and get through the fixed 5 cards at a rather dramatic pace if all is placed in proper order.
For decks that rely heavily on tribute summoning, one could normal or tribute summon once during their turn, activate this card, then be able to tribute summon again; Ideally, one would want to use "The Monarchs Stormforth" after using this card in order to get a second tribute summon which would use the opponent's monster as fodder.