The tokens copy exactly what was printed on the original creature and nothing else (unless that permanent is itself copying something else
We can reveal this year's special holiday set will release on Friday, September 22nd
increase its Level by the number of monsters Tributed, until the end of this turn
Next section: "To determine which replacement effects apply and how they apply, check the characteristics of the permanent as it would exist on the battlefield, taking into account replacement effects that have already modified how it enters the battlefield, continuous effects from the permanent's own static abilities that would apply to it once it's on the battlefield, and continuous effects that already exist and would apply to the permanent." This is the "lookahead" referred to earlier
This card's only downside is that most of the time, blue doesn't want to have any creature spells in its deck at all, but this can easily fit in any other non mono-blue archetypes
Your card could be a PSA 10 vintage holo, a CGC-slabbed alt art Umbreon, a raw Charizard ex from a sold-out set, or a Japanese exclusive that never hit the US market