If you Tribute this card for an Earthbound Immortal, you will have an almost invincible monster. Even if there isn't a Field Spell active on the field , the "Immortal" won't be destroyed because of this card's effect. This, coupled with the "Immortals'" ability of not letting your opponent select it as an attack target, can provide you with a durable wall against your opponent's offenses. This strategy can be a good backup plan if your field spell is destroyed before you can summon your "Earthbound Immortal". If you do this, your opponents' only hope of getting rid of it are cards that banish monsters, cards that return monsters to the hand/deck, and cards like "Skill Drain" which would make it attackable.
Combine this card with "Advance Force" and "Synchro Boost". Make it a Level 5 monster and tribute it to summon a Level 7 or higher monster instantly.
You can also use "Delta Flyer" to raise its level to 5.
You can use this cards effect to help out dragons that already protect themselves from other card effects such as "Tyrant Dragon" and "White Night Dragon".
Use this card in a "Geartown" Deck since Gear monsters only require 1 Tribute and are Level 7 or higher.
Also it can be useful in decks that use "Evil HERO Malicious Edge" and similar cards, since he will most likely be Summoned using only one Tribute. That way you only lose one monster on the field, leaving you with a 2600 ATK, almost indestructible, piercing beatstick.
Tributing this card for the Summoning of a B.E.S. monster or "The Wicked Avatar" to result in a monster who cannot be destroyed by card effects OR battle. The B.E.S. monsters can't be destroyed by battle and "Wicked Avatar" because it always has 100 more ATK. At this point your opponent's only hope is cards that would Banish or return to the hand/Deck.
This card can possibly be used for an easy Synchro Summon.
This could fit into a Yubel Deck, but only if you plan on tributing "Yubel" for something, like "Neos Wiseman", or if you just want to keep her out and use cards like "Battle Mania", "All-Out Attacks", "Staunch Defender", etc. The other two forms don't keep your opponent's monsters out on the field, which is essential for dealing damage to your opponent with a Yubel Deck. If you use this card she can't be destroyed, even by her own effect, and this is also helpful if you have other "Yubels" and wish to advance their forms, since at some point you will get "Yubel - Terror Incarnate" out, and normally "Yubel" wouldn't survive her effect.
Another use in a Yubel Deck could be to Tribute Summon a powerful monster while "Yubel - Terror Incarnate" is present, giving you more field presence that won't be lost by "Terror Incarnate's" effect during your End Phase.
Equip the Tribute Summoned monster "Mist Body" to make it even harder to destroy.
After summoning "Red-Eyes Darkness Metal Dragon", revive this card repeatedly for Tribute Summons of other Dragons, instead of Special Summoning the stronger dragons directly. This way they all get effect immunity. Use "Genesis Dragon" to return high-leveled Dragons to your hand for Tribute Summoning them and to Special Summon this card from your hand.
Do remember that this card's effect only prevents card effects that specifically destroy. This card will not prevent the monster from being returned to the hand or deck (e.g. the effects of "Legendary Jujitsu Master") or simply being sent to the Graveyard (Eg. the effect of "Dark End Dragon"). This card also will not prevent the monster from being banished (Eg. the effect of "Dimensional Prison").
This monster may be Special Summoned by discarding a high-level monster as a cost and give protection to a Tribute Summoned monster.
You may use "Inferno Reckless Summon" on this card to get 3 Tribute fodders for "Beast King Barbaros". In that case you'll get a juggernaut that will clear your opponent's field and cannot be destroyed easily.
If you Tribute this card for "Ancient Gear Golem" while "Geartown" (which makes this card the only tribute needed) is out, you will get a very stubborn piercer with 3000 ATK.
Special Summon this card using its own effect, and then use it to Tribute Summon "The Creator". Then you can use the effect of "The Creator" to Special Summon the monster you discarded to Summon this card.
If you Tribute this card for "Cloudian - Eye of the Typhoon", you will have an almost invincible monster: a 3000 ATK monster which cannot be destroyed by battle or effects, and is difficult to defend against because of it's effect "change the battle positions of all face-up monsters" when it attacks.
Use the monster under the influence of this card's effect as your target for the effect of "Scrap Dragon" to avoid losing field advantage while still destroying an opponent's card.
By tributing this while running "Forbidden Lance", you can guarantee safety from spells and traps, and you won't have to waste your Lance on cards that destroy, only cards that would otherwise subvert the protection that this tribute can give like "Neo-Spacian Grand Mole" (CAREFUL: Lance doesn't protect from monster effects like Grand mole, You will need cards like "Forbidden Chalice", "Fiendish Chain" or "Breakthrough Skill")
If you control "King Dragun" and "Queen Dragun Djinn", you can Tribute this card for a Dragon-Type monster that cannot be targeted or destroyed by effects, and cannot be destroyed by battle.
Tribute this card for "The Tyrant Neptune" since it will be protected from being destroyed by card effects.
Using "Five-Headed Dragon" as the other tribute and selecting its effect as the one to be copied by "The Tyrant Neptune" will also make indestructible in battle against most monsters.