Text (MR): 2/2. ; Whenever ~this~ becomes blocked, regenerate it. ; {3}: ~this~ gets +1/+0 until end of turn.
The first ability sets up a regeneration shield that will regenerate it if it would be destroyed this turn. Setting up the shield does not remove it from combat. If it actually regenerates, then the side-effects of regeneration apply. [Mirrodin FAQ 2003/10/01]
Note - This card had no creature type until Oracle 2007/10/01, when it became "Construct".