Text (UG+errata): {Tap}: Tear ~this~ into pieces. Add four mana of any one color to your mana pool. Play this ability as a mana source. Remove the pieces from the game afterwards. [Oracle 2009/07/08]
You must tear it into more than one piece. That's why it says "pieces". [QAS 1998/09/09]
As official errata, clean up after yourself. [Barclay 1998/08/13] Littering is a crime in many areas. Recycling is recommended.
If the card is in a sleeve, remove it before ripping it up. [QAS 1998/09/09]
Optional Rule: If the card is in a sleeve, tear up the sleeve as well. [Barclay 1998/08/13]
You may proxy a Blacker Lotus, by taking a normal Black Lotus, and using a Black Magic Marker to color the front of the card in completely black. No other proxies are acceptable. [Barclay 1998/08/13]
The ability is played as a mana ability, so it cannot be countered. [D'Angelo 2000/03/09]
If your opponent takes control of this card, they can use the ability to rip it up. [QAS 1998/09/09] Note that you can concede the game at faster-than-mana ability-speed to prevent them from doing so.
Ripping up the card does not make your deck illegal. See Rule 715.Ruling.8. [QAS 1998/09/09]
You must pick a valid color (Black, Blue, Green, Red or White) and cannot pick "colorless". [D'Angelo 1998/09/21]
Optional Rule: You can pick any color you want, such as Teal. [TomHa 1998/09/15]
All tournament formats have banned cards from Unglued.