This card is great side deck, since it can return cards like "Royal Oppression", or Set Traps that negate Special Summons like "Solemn Warning". Since the card goes back to your hand it can be discarded to activate cards like Phoenix Wing Wind Blast, Or Dragon Ravine.
This card is best used against decks with Continuous Spells or Traps like "Wave-Motion Cannon"; since the Spell/Trap Card returns to your opponent's hand, all the turns they may have accumalated are lost. Also, use against a deck relying on "Wall of Revealing Light" - not only do you get a whole turn in which you can attack your opponent in, but your opponent will have to pay the cost of "Wall of Revealing Light" again, should they have enough lifepoints left after your attacks.
Use this card with "Hino-Kagu-Tsuchi" and other cards with hand destruction effects. Since both this card and "Hino-Kagu-Tsuchi" are Spirit Monsters, you'll either need a card like "Double Summon" to summon both in the same turn or a way to keep them into the field like "Izanagi".
This card can remove threats like "Mirror Force" for the duration of the turn.
This card can be used with "Cold Wave", to prevent the opponent from activating the cards returned to the hand - this can be particularly devestating if you use it on a stall card your opponent controls like "Messenger of Peace" as you have two turns in which to take advantage of there being nothing stopping your attacks.
If your deck uses "Kaiser Colosseum" to slow down the opponent, this monster could be a wise inclusion. Its effect lets it attack with reduced risk; come your End Phase, you'll control the same number of monsters you did at the start of your turn.
Because this card is a water attribute it can be used to set up combos that go into Gungnir, Dragon of the Ice Barrier, or Absolute Zero.