Magical Labyrinth 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, Magical Labyrinth is Unlimited.
YGOPRODeck lists Magical Labyrinth for these formats: GOAT, OCG GOAT, Duel Links, Common Charity, Edison, TCG, OCG, Master Duel.
A listed print of Magical Labyrinth appears in Legendary Collection 4: Joey's World Mega Pack (LCJW-EN231) at Common rarity.
Among markets shown on this page, the lowest listed snapshot for Magical Labyrinth is about $0.02 on Cardmarket (prices change frequently).
