(can be paid with either or 2 life.)
You may have Phyrexian Metamorph enter the battlefield as a copy of any artifact or creature on the battlefield, except it's an artifact in addition to its other types.
6/1/2011 A card with Phyrexian mana symbols in its mana cost is each color that appears in that mana cost, regardless of how that cost may have been paid.
6/1/2011 To calculate the converted mana cost of a card with Phyrexian mana symbols in its cost, count each Phyrexian mana symbol as 1.
6/1/2011 As you cast a spell or activate an activated ability with one or more Phyrexian mana symbols in its cost, you choose how to pay for each Phyrexian mana symbol at the same time you would choose modes or choose a value for X.
6/1/2011 If you’re at 1 life or less, you can’t pay 2 life.
6/1/2011 Phyrexian mana is not a new color. Players can’t add Phyrexian mana to their mana pools.
6/1/2011 Except for also being an artifact, Phyrexian Metamorph copies exactly what was printed on the original permanent and nothing more (unless that creature is itself copying something or is a token; see below). It doesn’t copy whether that permanent is tapped or untapped, whether it has any counters on it or Auras attached to it, or any noncopy effects that have changed its power, toughness, types, color, and so on.
6/1/2011 If Phyrexian Metamorph copies a noncreature artifact, it is no longer a creature.
6/1/2011 If the chosen permanent has in its mana cost (such as Protean Hydra), X is considered to be zero.
6/1/2011 If the chosen creature is copying something else (for example, if the chosen creature is a Clone), then your Phyrexian Metamorph enters the battlefield as whatever the chosen creature copied, except it’s also an artifact.
6/1/2011 If the chosen permanent is a token, Phyrexian Metamorph copies the original characteristics of that token as stated by the effect that put the token onto the battlefield, except it’s also an artifact. Phyrexian Metamorph is not a token.
6/1/2011 Any enters-the-battlefield abilities of the copied permanent will trigger when Phyrexian Metamorph enters the battlefield. Any “as [this] enters the battlefield” or “[this] enters the battlefield with” abilities of the chosen permanent will also work.
6/1/2011 If Phyrexian Metamorph somehow enters the battlefield at the same time as another permanent (due to Mass Polymorph or Liliana Vess’s third ability, for example), Phyrexian Metamorph can’t become a copy of that permanent. You may only choose a permanent that’s already on the battlefield.
6/1/2011 You can choose not to copy anything. In that case, Phyrexian Metamorph simply enters the battlefield as a 0/0 artifact creature and is put into its owner’s graveyard as a state-based action (unless something else is raising its toughness).