Suppose I cast Oblivion Ring and have it target the Pacifism which is encumbering one of my creatures. What happens if the Oblivion Ring is subsequently destroyed?
- Pacifism re-enters play enchanting the same creature as before
- Pacifism chooses a new target when it re-enters play
- Nothing -- Auras can only exist while enchanting a creature, so Pacifism disappears in a poof of smoke when it's exiled, similar to what tokens do.