If you already control "The Agent of Creation - Venus", you can use this card to recycle a used "Mystical Shine Ball" from your Graveyard to your deck, from which you can then summon it with "The Agent of Creation - Venus"'s effect.
This card's effect also helps fulfill the requirements for the Special Summon of "Archlord Kristya", as adding monsters from your Graveyard to your hand can help you adjust the number of Fairy-Type Monsters in your Graveyard to 4. Additionally, if "Archlord Kristya" is in your graveyard, this card can get it back to your hand while still preparing for its special summon.
This card is also a good choice for "Frognarchs" Deck.
If you manage to Summon this Monster in a "Ninja" Deck, you can use its effect to return a monster such as "Ninja Grandmaster Hanzo" from your Graveyard to your hand, then shuffle a monster like "White Dragon Ninja" from your hand into your deck. This way, you Normal Summon "Ninja Grandmaster Hanzo" and add a "Ninjitsu Art of Transformation" or "Ninjitsu Art of Super-Transformation" to your hand through Hanzo's effect, and Special Summon the monster you returned to the deck on the following turn. This is especially useful if you happen to use "Ninjitsu Art of Super-Transformation", as a monster like "White Dragon Ninja" must be in the deck in order for "Ninjitsu Art of Super-Transformation" to Special Summon it.
This strategy works in general for most decks that can Special Summon Rank 2 Xyz monsters, as you can almost always use this card's effect to return a useful monster from your graveyard to your hand while putting a useless card from your hand into your deck.
You can easily include this card in a Mermail-Atlantean deck that sports the "Genex Undine" engine. If you have a "Genex Controller" in hand, whether added to hand by "Genex Undine" or acquiring via dead draw, you can normal summon "Deep Sea Diva", use her effect to special summon a level 2 Sea Serpent from deck, i.e. "Atlantean Heavy Infantry", to Xyz summon this card. Then, use its effect to add any monster from graveyard to hand, and return "Genex Controller" to the deck; effectively swapping Controller for something more useful, and allowing another use of the effect of "Genex Undine".