Um. Urk. Elvish Piper++ (The piper costs you the card, so you can't just summon the same evil fatty over and over) Now, admittedly, this costs more; and card advantage is Blue's thing - so maybe that's ok? It's still better than one of the best creatures.

Also Master Transmuter++. I think it should be noted that both of those cards have an activation of one. That doesn't look like much, but it does stack up over time. In general, I feel that those two cards 'cost more' than this card does, even if this card has the higher converted mana cost.

I dropped the cost and made you have to pay the cards mana cost. It still gives you repeatable tokens of things in your hand.

Mmm. Now it's a variation on Soul Foundry. At the cost of being a lot easier to kill (and having to make the token during upkeep), it can make different tokens each time and you don't lose the original card. I like it; I'd play it.

It may be green though.

It's probably better I made a mana payment happen; if not, you could have put a token copy of this into play if you had another in hand. Then it just starts getting silly.