You can use this card to create some extra Dragons to fuse to form Five-Headed Dragon. This works especially well with Sheep Tokens, as you will then only need one more Dragon. Just be sure to activate Scapegoat during your opponent's turn, after their battle phase so you can have them all.
If you have a Dark Paladin on the field and other monsters as well, activate this card to give him an extra 500 ATK for each monster you have on your side of the field for one turn.
You can use this card in conjunction with "Super Rejuvenation" in a "Frog" deck for insane draw power. Activate "D. Tribe", find a way to summon a frog alongside "Substitoad", mill any number of frogs, and draw that many cards during the End Phase.
If you have the 5 pieces of Exodia in your deck and use "Substitoad" to mill at least 20 frogs, you will draw out your entire deck during the End Phase and auto-win the duel before it counts as a Deck Out.