This is a homebrew deck that I've been working on for a little over a year. I've always liked the idea of bouncing creatures for value and recursion of counterspells and removal. In the current Modern metagame, I've found this to be a decent fit.
It should be played like a control deck, where the vast majority of blink effects are used as reactions. One of my favorite things to do with the deck is block with a kitchen finks one turn, have it die, then block with it again the next turn only to bounce it before damage. This strategy nets a lot of life and grants you a lot of time while you build up your land base to use some of the bigger win conditions like Craterhoof Behemoth or control tools like Mystic Snake. A resolved Mystic Snake with bounce spells or draw in hand usually wins the game, as does a resolved Craterhoof Behemoth with even a few creatures on the field.
Since the deck runs lots of blink effects, it's practically immune to single target removal like Fatal Push, Path to Exile, or Lightning Bolt, and the blink effects are justified as protection because of the beneficial effects of the creature reentering the battlefield.
While bouncing Renegade Rallier, which can be put on the field as early as turn 2 with a cracked fetchland, can result in a huge net of lands and becoming several turns ahead, I'd recommend not using multiple Cloudshifts or Essence Fluxes on a Renegade Rallier for the sole purpose of getting ahead. This grants your opponent free card advantage, and since this is really a control deck at heart, puts you at a major disadvantage.
This deck is an excellent choice to counter Death's Shadow decks and other midrange or aggro decks that rely upon creatures like Tarmogoyf or Delver of Secrets. During the time you're removing their creatures with Reflector Mage, you're also building a field of small to medium size creatures, which will allow you to gradually beat down the opponent until you win.
It does struggle with matches against some combo decks and other control decks, and it also has a reasonably tough time against faster aggro decks. Supreme Verdict is great against aggro decks and will usually allow you to regain control of the game after the early turns. Renegade Rallier is also excellent against aggro decks because dropping it turn 2 will help you ramp towards heavier control and removal effects faster. Render Silent and the extra Mystic Snakes in the sideboard will help ease the pain of a control mirror, but it is still a lower percentage match. The weakest match by far is Soul Sisters because by the time you're able to begin removing their creatures, they've gained 4-8 life from you, and they don't stop there. Reflector Mage is good here, but it's not enough. Bringing in the Supreme Verdicts is also necessary in this match.
Mulldrifter coupled with Cloudshift or Essence Flux in response to the evoke trigger is an amazing play that will get you 4 cards and a 2/2 flier. I'm still learning how to use this card most effectively, so I'm experimenting with its numbers in the deck.