By using this and "Soul Exchange" in the same turn, you can summon one of your own monsters then tribute it along with one of your opponent's monsters to summon a Level 7 or higher monster in one turn
This card can also work well in a swarm Deck or a "Six Samurai" Deck: you can summon one and then another straight away to gain their effects, plus if you have "Grandmaster of the Six Samurai" in your hand you can Special Summon it to the field. This also applies to the "Great Shogun Shien", since it requires two "Six Samurai" monster to be out on the field in order to Special Summon it.
Activate this card during your Main Phase 2 in case your opponent uses a card like "Mirror Force" to wipe your field clean; that way you have a monster out to protect your Life Points.
In a stall Deck like an Exodia Deck, if you have both "Cardcar D" and "Cyber Valley" in your hand, you can use this card to Normal Summon both monsters, then you can Tribute "Cardcar D" to draw 2 cards and when your turn automatically ends, you'll still have some protection on the field.