Is Elemental Masterpiece legal in Standard, Modern, and Commander?

Elemental Masterpiece is legal in: Modern, Pioneer, Legacy, Vintage, Commander, Pauper, Historic.

What type of card is Elemental Masterpiece?

Elemental Masterpiece is a Sorcery. Its oracle text reads: "Create two 4/4 blue and red Elemental creature tokens. {U/R}{U/R}, Discard this card: Create a Treasure token. (It's an artifact with "{T}, Sacrifice this token: Add one mana of any color.")"