This card is most effective in decks that have good control over their own Life Points, such as a Psychic-Type deck: Use cards such as Overdrive Teleporter, Psychic Jumper and Psychic Path to lower your LP below your opponent's monsters' ATK, then activate this card. Your opponent will have to shuffle many monsters into their deck due to your LP being so low. Afterwords, you can regain the lost Life Points with cards such as Magical Android and Hyper Psychic Blaster.
When using this card against Xyz monsters, consider if it's a good idea to use it when your opponent has finished Summoning from the Extra Deck because shuffling the Xyz monster back into the Extra Deck will make the Xyz materials go to the graveyard. However, some Decks benefit from having monsters on the graveyard so it'd be a good idea to actually shuffle the Normal and Effect Monsters back to the Main Deck using this card.
This card is a staple in a Hope for Exodia deck. Not only you need to keep your LPs low so you can use Hope for Escape's draw power, but this card will greatly benefit from that potentially leaving your opponent's field clear from monsters and disrupting/greatly slowing their strategy.
Because of the low LP count, your opponent might try to Summon Gagaga Cowboy so don't forget to chain this card to the Special Summon itself and not the effect since the effect will still go through since this card doesn't negate effects. Unless your opponent finds another way to re-Summon him, he/she most likely has wasted their Normal Summon trying to Summon him for that turn.
Using Tri-and-Guess will help you know your opponent's strategy, so consider if using this card is a good idea before or after the SP from the Extra Deck (See bullet #3 above).