That creature becomes a copy of the card with the chosen name until Killer Cosplay becomes unattached from it. This allows you to turn a common card into a mythic rare, but you do need to know a fair bit about Magic: The Gathering to be able to pick the right creature for the situation
On the Venusaur, the indicator is on the back of the card where it sais BANDAI 1996 MADE IN JAPAN On the real card, the font size on the top and the bottom of that map picture is the same and none of it is bold - its very very thin type
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This was the first time a permanent other than a creature appeared on a two-in-one card
Similarly, if the main disadvantage of an effect is your opponent playing around it, in an open-decklist tournament, playing only one can be correct to force opponents to respect it with the minimum amount of investment