You may have this creature enter as a copy of a creature an opponent controls, except it's a Faerie Shapeshifter in addition to its other types and it has flying.
You can choose not to copy anything. In that case, Malleable Impostor simply enters the battlefield as a 0/0 creature and is probably put into your graveyard immediately, unless something else is increasing its toughness to keep it alive.
2023-09-01
wotc
If the chosen permanent is copying something else (for example, if the chosen permanent is a Clone), then your Malleable Impostor enters the battlefield as whatever the chosen permanent copied, with the stated exceptions.
2023-09-01
wotc
If the chosen permanent is a token, Malleable Impostor copies the original characteristics of that token as stated by the effect that put the token onto the battlefield, with the listed exceptions. Malleable Impostor does not become a token.
2023-09-01
wotc
If the chosen permanent has {X} in its mana cost, X is 0.
2023-09-01
wotc
If Malleable Impostor somehow enters the battlefield at the same time as another creature, Malleable Impostor can't become a copy of that creature. You may choose only a creature that's already on the battlefield.
2023-09-01
wotc
Except for the listed exceptions, Malleable Impostor copies exactly what was printed on the original permanent and nothing more (unless that permanent is itself copying something or is a token; see below). It doesn't copy whether that permanent is tapped or untapped, whether it has any counters on it or Auras attached to it, or any noncopy effects that have changed its power, toughness, types, color, and so on.
2023-09-01
wotc
Any enters-the-battlefield abilities of the copied permanent will trigger when Malleable Impostor enters the battlefield. Any "as [this permanent] enters the battlefield" or "[this permanent] enters the battlefield with" abilities of the chosen permanent will also work.
Format Legality
Standard
Not Legal
Future
Not Legal
Historic
Not Legal
Timeless
Not Legal
Gladiator
Not Legal
Pioneer
Not Legal
Modern
Not Legal
Legacy
Legal
Pauper
Not Legal
Vintage
Legal
Penny
Not Legal
Commander
Legal
Oathbreaker
Legal
Standardbrawl
Not Legal
Brawl
Not Legal
Alchemy
Not Legal
Paupercommander
Not Legal
Duel
Legal
Oldschool
Not Legal
Premodern
Not Legal
Predh
Not Legal
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Wilds of Eldraine Commander