Silkwrap — ruling 1

If a creature token is exiled, it ceases to exist. It won't be returned to the battlefield.

Silkwrap — ruling 2

The exiled card returns to the battlefield immediately after Silkwrap leaves the battlefield. Nothing happens between the two events, including state-based actions.

Silkwrap — ruling 3

In a multiplayer game, if Silkwrap's owner leaves the game, the exiled card will return to the battlefield. Because the one-shot effect that returns the card isn't an ability that goes on the stack, it won't cease to exist along with the leaving player's spells and abilities on the stack.

Silkwrap — ruling 4

Auras attached to the exiled creature will be put into their owners' graveyards. Equipment attached to the exiled creature will become unattached and remain on the battlefield. Any counters on the exiled creature will cease to exist.

Silkwrap — ruling 5

Face-down creatures have a mana value of 0. If one is exiled by Silkwrap, it will return to the battlefield face up.

Silkwrap — ruling 6

Silkwrap's ability causes a zone change with a duration, a style of ability that's somewhat reminiscent of older cards like Oblivion Ring. However, unlike Oblivion Ring, cards like Silkwrap have a single ability that creates two one-shot effects: one that exiles the creature when the ability resolves, and another that returns the exiled card to the battlefield immediately after Silkwrap leaves the battlefield.

Silkwrap — ruling 7

If Silkwrap leaves the battlefield before its triggered ability resolves, the target creature won't be exiled.

Silkwrap : règles, fonctionnement et interactions (MTG)

Silkwrap 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

When this enchantment enters, exile target creature with mana value 3 or less an opponent controls until this enchantment leaves the battlefield. (That creature returns under its owner's control.)

How it works : Silkwrap

Original English text — Wizards of the Coast / Scryfall

#1February 25, 2015· Wizards of the Coast
If a creature token is exiled, it ceases to exist. It won't be returned to the battlefield.
No other card is named in this ruling.
#2February 25, 2015· Wizards of the Coast
The exiled card returns to the battlefield immediately after Silkwrap leaves the battlefield. Nothing happens between the two events, including state-based actions.
No other card is named in this ruling.
#3February 25, 2015· Wizards of the Coast
In a multiplayer game, if Silkwrap's owner leaves the game, the exiled card will return to the battlefield. Because the one-shot effect that returns the card isn't an ability that goes on the stack, it won't cease to exist along with the leaving player's spells and abilities on the stack.
No other card is named in this ruling.
#4February 25, 2015· Wizards of the Coast
Auras attached to the exiled creature will be put into their owners' graveyards. Equipment attached to the exiled creature will become unattached and remain on the battlefield. Any counters on the exiled creature will cease to exist.
No other card is named in this ruling.
#5February 25, 2015· Wizards of the Coast
Face-down creatures have a mana value of 0. If one is exiled by Silkwrap, it will return to the battlefield face up.
No other card is named in this ruling.
#6February 25, 2015· Wizards of the Coast
Silkwrap's ability causes a zone change with a duration, a style of ability that's somewhat reminiscent of older cards like Oblivion Ring. However, unlike Oblivion Ring, cards like Silkwrap have a single ability that creates two one-shot effects: one that exiles the creature when the ability resolves, and another that returns the exiled card to the battlefield immediately after Silkwrap leaves the battlefield.
No other card is named in this ruling.
#7February 25, 2015· Wizards of the Coast
If Silkwrap leaves the battlefield before its triggered ability resolves, the target creature won't be exiled.
No other card is named in this ruling.