Puzzle Reborn is a Normal Trap Card.
Trap Cards are normally Set first and can be activated on a later turn, often in response to an action.
On the current TCG and OCG Forbidden & Limited lists tracked here, Puzzle Reborn is Unlimited.
YGOPRODeck lists Puzzle Reborn for these formats: Duel Links, Common Charity, TCG, OCG, Master Duel.
A listed print of Puzzle Reborn appears in Super Starter: V for Victory (YS13-EN031) at Common rarity.
Among markets shown on this page, the lowest listed snapshot for Puzzle Reborn is about $0.05 on Cardmarket (prices change frequently).