Dance of the Skywise — ruling 1

The target creature will lose all other colors and creature types and be blue, a Dragon, and an Illusion. It will retain any other types it may have had, such as artifact.

Dance of the Skywise — ruling 2

The target creature will lose any abilities it may have gained prior to Dance of the Skywise resolving. Notably, if the creature is a face-down creature with morph or megamorph, you can’t turn it face up, as it wouldn’t have a morph or megamorph cost when face up (because it’s lost all abilities other than flying).

Dance of the Skywise — ruling 3

After Dance of the Skywise resolves, the creature can gain abilities as normal.

Dance of the Skywise — ruling 4

Dance of the Skywise overrides all previous effects that set the creature’s power or toughness to specific values. However, effects that set its power or toughness to specific values that start to apply after Dance of the Skywise resolves will override this effect.

Dance of the Skywise — ruling 5

Effects that modify the power or toughness of the creature, such as the effects of Giant Growth or Hall of Triumph, will apply to it no matter when they started to take effect. The same is true for counters that change the creature’s power or toughness (such as +1/+1 counters) and effects that switch its power and toughness.

Dance of the Skywise : règles, fonctionnement et interactions (MTG)

Dance of the Skywise is one of those cards players keep asking about. Here is, in plain words, what its official text says, the rulings published by Wizards of the Coast, and the combos players actually run.

Official card text

Until end of turn, target creature you control becomes a blue Dragon Illusion with base power and toughness 4/4, loses all abilities, and gains flying.

How it works : Dance of the Skywise

Original English text — Wizards of the Coast / Scryfall

#1February 25, 2015· Wizards of the Coast
The target creature will lose all other colors and creature types and be blue, a Dragon, and an Illusion. It will retain any other types it may have had, such as artifact.
No other card is named in this ruling.
#2February 25, 2015· Wizards of the Coast
The target creature will lose any abilities it may have gained prior to Dance of the Skywise resolving. Notably, if the creature is a face-down creature with morph or megamorph, you can’t turn it face up, as it wouldn’t have a morph or megamorph cost when face up (because it’s lost all abilities other than flying).
No other card is named in this ruling.
#3February 25, 2015· Wizards of the Coast
After Dance of the Skywise resolves, the creature can gain abilities as normal.
No other card is named in this ruling.
#4February 25, 2015· Wizards of the Coast
Dance of the Skywise overrides all previous effects that set the creature’s power or toughness to specific values. However, effects that set its power or toughness to specific values that start to apply after Dance of the Skywise resolves will override this effect.
No other card is named in this ruling.
#5February 25, 2015· Wizards of the Coast
Effects that modify the power or toughness of the creature, such as the effects of Giant Growth or Hall of Triumph, will apply to it no matter when they started to take effect. The same is true for counters that change the creature’s power or toughness (such as +1/+1 counters) and effects that switch its power and toughness.
No other card is named in this ruling.