Guess what? Woodland Sprite isn't as useless as we thought it was! I found a deck on another website, and it was rather impressive. You need the following cards to pull it off, so it will only work in the Traditional format.

Woodland Sprite
Gearfried the Iron Knight
Butterfly Dagger - Elma
Royal Magical Library
Sword of Deep-Seated

Okay, first you need to have all three monsters on the field (face-up of course), then equip the Sword of Deep-Seated to the Sprite. Send it to the Graveyard and do the damage. Next, use the Gearfried/Dagger combo to charge up the Library and draw the Sword again. Rinse and repeat.

Well...unless you're playing traditional, the whole combo gets shot by Elma being banned...

Also, the whole combo requires 5 specific cards that will, most likely, take time to get into your hand.

HalfDemonInuyas is right, that would be very hard to get all those cards in your hand, but it's still an impressive idea. Too bad it's a little late for all us Advanced Format players.