Tatsumasa, the Dragon's Fang
Most equipment has exactly one failure mode: the creature it buffs dies, and the sword sits inert on the field, a dead +5/+5 waiting on the next body. This one answers that by becoming its own body. Spend six and exile it, and you get a 5/5 flying Dragon Spirit; the moment that token dies, the equipment returns to the battlefield to be strapped on again. A sword that can detach itself, fly off as a creature, and reattach as a sword. That loop reframes what an Equipment is allowed to be: a built-in safety valve against board wipes that would otherwise leave a buff attached to nothing. The cost structure is where the design tension sits. The token activation matches the casting cost exactly, so converting the sword into a Dragon is never free tempo; it is a deliberate, mana-heavy pivot you make when no creature is worth equipping, or when you simply want a flyer the opponent can't profitably kill without handing the sword right back. The +5/+5 itself is enormous, a relic of an era when equipment numbers ran higher before the keyword settled into smaller, repeatable increments. What endures is the shape of the thing: a piece of gear that refuses to be a liability when its wearer falls.
