QCan I play this card as a spell from my EX area if I pay 4 play points?

AYes, you can. If you play this card as a spell, your leader gains 1 defense, and you draw a card. After resolving its effect, you put it into your cemetery. Then, because this card is a token, you remove it from play.

QWhat does "At the start of the game, if your deck is based on the THE IDOLM@STER CINDERELLA GIRLS universe, put 5 Magical Item tokens into your EX area" mean?

AIf your leader, deck, and evolve deck consist solely of THE IDOLM@STER CINDERELLA GIRLS cards, you may declare that it is based on the THE IDOLM@STER CINDERELLA GIRLS universe at the start of the game. (In normal play, your deck must be either based on a single class or a universe.) If you do, you must put 5 Magical Item tokens into your EX area at the start of the game.

QIs this card a Magical Item?

AYes, it is. There are several types of Magical Items, including earrings, pendants, and tiaras of the three traits Cute, Cool, and Passion. In-game, they function as Magical Items, so you may use any of them in your deck, regardless of trait (for example, you can use Passion Earrings in a Cool deck).