wotc
Okay, so Outlaws’ Merriment and similar cards are weird. Far Out, even. For cards with mutually exclusive modes like Outlaws’ Merriment, you get all of the benefits of the modes you chose, combined as best you can. For Outlaws’ Merriment, that means you create a single red and white creature token with all the characteristics from every mode you chose. Powers get added together and toughnesses get added together. If you choose two modes (and why would you?), they’re still random. If you much more sensibly choose all three modes, you get a 6/4 Human Warrior Cleric Rogue with trample, lifelink, haste, and “When this creature enters the battlefield, it deals 1 damage to any target.”