King of the Oathbreakers

Any continuous effects with a "for as long as" duration, such as that of Rangers of Ithilien, ignore phased-out objects. If ignoring those objects causes the effect's conditions to no longer be met, the duration will expire.

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.

As a creature 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 creature.

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

Phased-out permanents are treated as though they don't exist. They can't be the target 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.