This card cannot be Normal Summoned or Set. This card cannot be Special Summoned except by sending 2 Spell or Trap Cards you control to the Graveyard. You can destroy 1 Spell or Trap Card your opponent controls. If you activate this effect, this card cannot attack during this turn.
You can send a Field Spell Card to the Graveyard as part of the cost to Special Summon “Anteatereatingant”. You can also use a Monster Card treated as an Equip Card, such as a Union Monster or a monster equipped to “Relinquished".
Sends from your field to your Graveyard
Destroys your opponent's Spell Cards / Destroys your opponent's Trap Cards
The fiend MegaCyber or even Alector, Sovereign of Birds are a good replacement for this one in a farming deck !
Besides being a run-on, there's nothing wrong with the name, in fact it makes perfect sense if you look at the illustration.
Another tidbit: This ISN'T the only card spelled like this, not likely the last either.
Official Ruling states that it is once per turn. If you have further questions about it then you can go to a search engine (example google) type "yugioh (insert card name here) ruling" and find a site that has has the rulings.