You must control no monsters to activate this card.
Send Neo-Spacian monsters to the graveyard to use as fusion material when using Miracle Contact. Choose Elemental HERO Neos as the card you send from the deck to graveyard if he is not already there. Although if he is in the graveyard, you can send another Neo-Spacian monster to summon a monster like Elemental HERO Storm Neos.
I find the other anon's comment weird though (I was the one who made the first reply)... Rainbow Neos is definitely less acceptable than Air Neos, Brave Neos, Connector or Neos Fusion, and was even back then.
What happens when :
1. 1 jar of greed on your field
2. 1 good goblin housekeeping on field, 2 in grave
3. You activate this then draw 2 cards after discarding a neospacian
4. You drew one more of this and another neospacian
5. Repeat once more from step 3 and if done...
6. You drew the last 2 exodia parts (other parts is in hand, or grave but you had dark factory of mass production)