Faceless Butcher

When this creature enters, exile another target creature.
When this creature leaves the battlefield, return the exiled card to the battlefield under its owner's control.

Dominaria Remastered

When Faceless Butcher enters the battlefield, exile another target creature.
When Faceless Butcher leaves the battlefield, return the exiled card to the battlefield under its owner's control.

Premium Deck Series: Graveborn

When Faceless Butcher enters the battlefield, exile target creature other than Faceless Butcher.
When Faceless Butcher leaves the battlefield, return the exiled card to the battlefield under its owner's control.

Time Spiral Timeshifted

When Faceless Butcher comes into play, remove target creature other than Faceless Butcher from the game.
When Faceless Butcher leaves play, return the removed card to play under its owner's control.

Torment

Faceless Butcher’s first ability isn’t optional. If no other players control any creatures and you do, you must choose a creature you control as the target.

If Faceless Butcher exiles a second Faceless Butcher, and then a third Faceless Butcher comes along and exiles the first one, the second one will return to the battlefield. If there are no other creatures on the battlefield, the second will exile the third one, returning the first one, and so on. If no one can stop the loop, the game will be a draw.

If Faceless Butcher exiles a token creature, the token will cease to exist after being exiled. It won’t return to the battlefield because of the second ability.