This card can be used as a more powerful, and higher Level version of "White Magical Hat", as its base effects (unrelated to "Toon World") are the same with the exception that "White Magical Hat" can attack the turn it is Summoned. The inconvenience of having to wait to attack can be somewhat circumvented by using the card "Vengeful Bog Spirit", which prevents both players from attacking with monsters if they were Summoned in the same turn, so "Toon Gemini Elf" would be unable to attack anyway.
Use it in a combo with "Robbin' Goblin" and your opponent will lose two cards whenever "Toon Gemini Elf" inflicts damage.
Search this card with "Summoner Monk" since it can't attack anyway. Of course, your opponent will probably come up with a plan to deal with your card next turn, but that doesn't mean it won't be a problem for them. Your opponent will have to play defensively or waste reinforcements on this card anyway. Also you can always Xyz Summon for a Rank 4 with your two Spellcasters.