As long as you have WATER monsters in your Graveyard, you can revive "White Aura Dolphin" or "White Aura Whale" from your Graveyard by banishing a WATER monster from it. "White Aura Whale" is a better choice, however, due to its 2800 ATK.
This card can also be useful in a "Kozmo" Deck, since its lower-Level monsters pay LP to activate their effects (along with the LP-reducing effect of "Kozmotown").
In a Machine-Type Deck, the damaging effect of "Power Bond" can help to meet this card's LP requirement.
The ATK-gaining effect of "The Winged Dragon of Ra" both serves as an instantaneous way of meeting this card's activation condition and as a way of making it an ideal monster to choose for this card's effect (if it has high-enough ATK).
This card is best used during the opponent's End Phase, so that they do not have a chance to conduct Normal/Special Summons after the battle or use Spell Speed 1 effects to Summon a monster to their field.
The effects of cards like "Gravity Collapse" and "Non Aggression Area" can help ensure the opponent cannot Normal or Special Summon at all (even after they 'lose' the battle), although they can still potentially Normal Set a monster.
"Inferno Tempest" is ideal to use before activating this card, as the opponent will have no monsters in their Deck left to Summon (although, depending on which phase it currently is, they can still potentially Normal/Special Summon a monster from their hand or from among their banished monsters).
Choosing a Level 3 "Graydle" monster is very ideal, as that monster (when destroyed by battle) will take control of the opposing monster, ensuring one still controls a monster while the opponent controls none.
However, "Graydle Eagle" is the best monster to choose, since it can also be equipped if the opposing monster destroys it with its effect.
"Number S39: Utopia the Lightning" is an ideal monster to choose (assuming it has 2 remaining Xyz Material attached to it, one of which is a "Utopia" Xyz Monster), since it can have 5000 ATK this way and prevent the opponent from activating any effects during the battle.