If "A Legendary Ocean" is on the field, this card can be Normal Summoned without Tribute. Of course, it means an "Ice Coffin Token" won't be produced.
If there is a face-up "All-Out Attacks" on your side of the field, then your opponent's Token must attack with it. If it is Tribute Summoned during your opponent's turn, and the Token can still be attacked. Make your opponent take damage, feasible with "Escalation of the Monarchs", using it with "The Monarchs Stormforth" will make sure your opponent's strongest monster is gone.
Two copies of this card can be combined with three copies of "Numbing Grub in the Ice Barrier", or vice versa to completely lock down your opponent's Monster Zones.
This card can be used in a Deck based around switching ATK and DEF. This card ATK and DEF are the same, so it won't be affected, and the Token it Summons has 0 DEF and is Summoned in Attack Position, so it would be like a direct attack.
Possibly the simplest use of this card is to use the Token as an easy attack target for a cheap shot at the opponent's Life Points. A successful Summon of "Royal Knight" guarantees at least 1000 points of battle damage from attacking the Token, which can provide the final push needed to take an advantage or win a close game.