1.Effect monster with cool effect, but low atk/def (Mysterious Puppeteer, Lord of D., Time Wizard....)
2.Magnetic Ring
3.Attach Magnetic Ring to your effect monster
4.Magnetic Ring reduces atk/def of the effect monster by 500, but prevents the opponent from attacking it.
5.Result:Really weak effect monster that can't be attacked.
Pros
effect monster still has its effect but can't be attacked
the -500 atk doesn't matter because nobody uses effect monsters to attack
the -500 def doesn't matter because it can't be attacked.
Cons
opponent can use de-spell
opponent can use change of heart to force it to attack a stronger monster, killing itself.