Black and White Wave 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, Black and White Wave is Unlimited.
YGOPRODeck lists Black and White Wave for these formats: Duel Links, Common Charity, TCG, OCG, Master Duel.
A listed print of Black and White Wave appears in Judgment of the Light (JOTL-EN068) at Common rarity.
Among markets shown on this page, the lowest listed snapshot for Black and White Wave is about $0.11 on Cardmarket (prices change frequently).
