Forbidden Chalice is a Quick-Play 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, Forbidden Chalice is Unlimited.
YGOPRODeck lists Forbidden Chalice for these formats: Duel Links, Common Charity, Edison, TCG, OCG, Master Duel.
Forbidden Chalice belongs to the Forbidden archetype—use that tag when searching for engine pieces and tech options.
A listed print of Forbidden Chalice appears in Battle Pack 2: War of the Giants (BP02-EN155) at Common rarity.
Among markets shown on this page, the lowest listed snapshot for Forbidden Chalice is about $0.07 on Cardmarket (prices change frequently).
