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If we break the card down into its three clauses, we have the activation timing of when a Trap Card is activated:, the activation cost of Pay 1000 LP; and the effect negate the activation, and if you do, destroy it. Costs have to be paid when the card is activated, or the card cannot be activated at all

That's nasty good

And the deck isn't even technically an Elf deck, but with 12 one drop mana making Elves, plus 4 Priests, and 4 Circles, you have 20 Elves that tap for mana, then flesh out your deck otherwise

Where are they best suited for play

, Remove a +1/+1 counter from Mikaeus: Put a +1/+1 counter on each other creature you control