Each Ferris Wheel that comes under your control is a new, exciting experience. Its ability can target creatures that have been phased out in the past by other Ferris Wheels.

Similarly, if a creature rides the Ferris Wheel, leaves the battlefield, and then returns to the battlefield, it will be a new object with no memory of being phased out by the Ferris Wheel. It is again a legal target.

If you visit Ferris Wheel and there are no legal targets to choose, the ability is removed from the stack and has no effect. However, if there’s at least one legal target, you must choose one, even if it’s a creature you don’t want to phase out.

Phased-out permanents are treated as though they don’t exist. They can’t be the targets of spells or abilities, their static abilities have no effect on the game, their triggered abilities can’t trigger, they can’t attack or block, and so on.

As a permanent is phased out, Auras and Equipment attached to it also phase out at the same time. Those Auras and Equipment will phase in at the same time that creature does, and they’ll phase in still attached to that permanent.

Permanents usually phase back in during their controller’s untap step, immediately before that player untaps their permanents. But Ferris Wheel isn’t so forgiving. The phased-out creatures will stay phased out until a player rolls a 3 or less. If a permanent had counters or stickers on it when it phased out, it will have them when it phases back in.

An attacking or blocking creature that phases out is removed from combat.

Phasing out doesn’t cause any “leaves the battlefield” abilities to trigger. Similarly, phasing in won’t cause any “enters the battlefield” abilities to trigger.

Any continuous effects with a “for as long as” duration ignore phased-out objects. If ignoring those objects causes the effect’s conditions to no longer be met, the duration will expire.

Choices made for permanents as they entered the battlefield are remembered when they phase in.