This card is quite inexpensive in terms of a nova or SN spam... the ability is really underpowered to the point of pretty useless except in weird stalls that just won't work. nice name though.
See the first page for discussion of an ideal deck. This Nymph would likely appear in stalls that use a lot of pillars (Quantum Tower + Diss Shield being the most obvious example), with its ability used to gain HP at endgame or acquire an EM. It is made clear that protection like PA or Quint would also be included in rainbows to allow the strategy to work.
On the other side of the coin, the efficiency with Nova/SNova could be potentially useful for making it a vanilla beatstick in a non-stall rainbow. (It also is an ideal target for Rage Potion.)