Saturday School covered this a few weeks ago:
*Extra* One of the oddest interactions to come out of Saviors of Kamigawa is the Sakashima / Homura, Human Ascendant /other flipper combo. Here's how it works:
Sakashima comes into play copying an unflipped Homura. The Sakashima-Homura is killed in some way, and goes to the graveyard. Copy creatures lose their copied characteristics as they leave play, but Homura's trigger actually checks the game state that existed just before Sakashima left play, so Sakashima-Homura triggers [CR 410.10d]. As that trigger puts Sakashima back into play, Sakashima's own copying ability kicks in, and you can pick a creature to copy, but notice that the S-Homura trigger says it returns to play flipped. So if you chose a Nezumi Shortfang, the fact that the flip/unflipped status is "flipped" means your new critter will be a Sakashima-Stabwhisker the Odious. Note that you wouldn't be able to copy a creature that has since flipped into a legendary enchantment-- the creature in them is gone. But if you choose and unflipped Ascendant, as the flipped Sakashima-who-was-Homura returns, you will get the Essence side of the Ascendant.
