You can use this card to destroy "The Thing in the Crater" to be able to summon a Pyro monster from your hand besides the one that will be revived from your graveyard.
If you have a copy of "Fire King High Avatar Garunix" in your graveyard, and your opponent tries to Banish another copy you control (which is virtually the only way to get rid of it) you can chain this card, allowing you to instantly set up a Loop with "Garunix".
You can use this to revive a FIRE monster that you probably lost when your opponent Tributed it to Summon "Lava Golem" or "Volcanic Queen". Using the first method mentioned above and then destroying the "Lava Golem/Volcanic Queen" with "Fire King Fire Cycle" is a good way to destroy a tough monster by battle (with Lava Golem/Volcanic Queen) and then reviving a high-level non-Nomi FIRE monster after destroying Lava Golem/Volcanic Queen, since the Lave Golem/Volcanic Queen is a FIRE Monster.
Use this card in a Hazy Flame deck to destroy "Hazy Flame Cerbereus" and revive another monster, getting the search effect of "Hazy Flame Cerbereus" and possibly reviving a much stronger monster in its place.
The above move is especially effective if the monster special summoned is Hazy Flame Hydra, which can make use of Hazy Flame Cerbereus in the graveyard following an overlay into Hazy Flame Basiltrice or Evolzar Solda using that Hazy Flame Hydra as one of the materials.
Chain this card to an opponent's card effect that targets your FIRE monster. The opponent will likely lose their card effect since the target has vanished, and you'll be able to revive another FIRE monster to still defend yourself.