Metamorphosis is a Normal 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, Metamorphosis is Unlimited.
YGOPRODeck lists Metamorphosis for these formats: GOAT, OCG GOAT, Duel Links, Common Charity, Edison, TCG, OCG, Master Duel.
A listed print of Metamorphosis appears in 2025 Mega-Pack Tin (MP25-EN299) at Ultra Rare rarity.
Among markets shown on this page, the lowest listed snapshot for Metamorphosis is about $1.00 on TCGPlayer (prices change frequently).