You can use this in combination with "Mysterious Puppeteer" to continue to summon monsters without the cost of life points.
You can use this card in combination with "Black Whirlwind" in a "Blackwing" Deck to continuously gather monsters until you run out of options.
This card is useful in an "Ancient Gear" Deck. With "Geartown" on the field, you can use this card's effect to get two Level 5 or 6 "Ancient Gear" monsters on the field. And, if you have a weak monster on the field and a strong "Ancient Gear" in your hand (such as "Ancient Gear Gadjiltron Dragon" or "Ancient Gear Golem") during your opponent's turn, you can use this card's effect to summon it and hopefully disrupt their Battle Phase plans.
This card is quite handy in a Spirit deck to help maintain field advantage. It effectively allows you to re-summon every spirit monster in your hand every turn. This, combined with "Spring of Rebirth", makes an effective combo as you can regenerate the Life Points you are spending each turn.
You can combine this with "Magical Hats" to give you three monsters for a tribute during your opponent's Battle Phase. This would allow you to summon cards like "Gilford the Lightning" or "Moisture Creature" and, with those two cards, wipe out all monsters or Spells/Traps on your opponent's field respectively, likely disrupting their Battle Phase (and their field advantage) severely.
This card would allow you to make a nasty trap with "Jowls of Dark Demise"; set it, after it is attacked, use its effect to take control of one of your opponent's monsters, then use "Ultimate Offering" to tribute that monster for a Tribute Summon during their Battle Phase to gain a significant edge.
This card can be very helpful if you intend on summoning an Egyptian God Card, you can use it to summon "Queen's Knight" and make a trap in your opponent's battle phase to summon your God Card, using the effect of "King's Knight" in your opponent's battle phase.
"Summon "Sangan", then use this card to tribute summon a monster using "Sangan" as tribute. "Sangan" lets you add another monster to your hand that you can summon with this card.
When your (Set) "Sangan" is destroyed during your opponent's turn, you can already Summon the monster that you added to your hand with "Sangan"s effect during your opponent's Battle Phase (i.e. a defender or a monster with a flip-effect that you want to use during your next turn like "Penguin Soldier").