Axe of Fools is a Equip Spell Card.
Spell Cards are usually activated from the hand on your turn unless their type gives another timing window.
On the current TCG and OCG Forbidden & Limited lists tracked here, Axe of Fools is Unlimited.
YGOPRODeck lists Axe of Fools for these formats: Duel Links, Common Charity, TCG, OCG, Master Duel.
A listed print of Axe of Fools appears in Battle Pack 2: War of the Giants (BP02-EN161) at Common rarity.
Among markets shown on this page, the lowest listed snapshot for Axe of Fools is about $0.11 on Cardmarket (prices change frequently).
