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

AYes. 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. There are several varieties of Magical Item token, but as far as gameplay is concerned, they are all the same card, so you may use any combination of them.