You can only use the (2)nd effect with this card’s name once per turn.
(1) While the equipped monster’s Type is Fairy, it gains 1000 ATK. While the equipped monster’s Type is not Fairy, it cannot attack, also it loses 1000 ATK.
(2) If this card is sent to the GY because the monster it was equipped to was destroyed: You can target 1 “Prinzessin” you control; equip this card to that target.