This card is obviously useful for a deck that involves its own monsters being banished, but it is best to try to banish more of the opponent's monsters when using such a strategy, as it would take at least 4 banishments to return 1 monster.
Note that "Chaos Zone" does not specify how the monsters get banished, and even accumulates counters if you banish them to pay costs.
"Galaxy-Eyes Photon Dragon" is the best choice because it is the easiest to banish and return repeatedly. Although it takes time, a combo of these 2 cards can allow you to return all of your banished monsters without losing more than you get back and even end up with none banished at all.
Malefic Decks work well with this card not only because they have to banish their counterparts to be summoned, but also because most of them are Dragons. Thus cards from Structure Deck: Dragons Collide, like this card, can support them.
Try to avoid banishing Level 3 or lower monsters, as this card can only summon a monster whose Level is equal to the counters removed and you must remove 4 or more at a time (though any monster may be a valid target for the effect that activates when this card is removed from the field, so long as Chaos Zone had enough counters).
"Summoning Curse" speed up Chaos Counter accumulation and slow down swarming decks.
Use "Skull Lair" in combination with this card, "Skull Lair" can destroy your opponent's monsters while at same time give "Chaos Zone" Chaos Counters.
Use Gold Sarcophagus with this to earn a counter, and a card of your choice in two turns, OR summon it after playing gold sarcophagus with Chaos Zone's effect (provided you have sufficient counters).
Use Inferno Tempest to earn a lot of Chaos Counters. Then summon a powerful Monster after that with this card (during your turn).
Combo this card with "Big Burn" and "Lightray Madoor". If all goes well, you will get a free powerful defender and plenty of Chaos Counters to summon a high-level monster.