Seriously, if you or someone you know has this card buried somewhere, you should consider looking for it ASAP, or the next time you plan on doing a spring cleaning
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(I like it this way more, if you wanted it the original way then it would read "During the beginning of each player's upkeep, each player puts a 1/1 red Devil token onto the battlefield.") At the beginning of each player's end step, each creature controlled by that player deals 1 damage to it's controller
having grown up by the seaside, I love them, but I also genuinely feel that for whatever reason, disproportionately many of the most beautiful Magic cards I've ever seen have featured both
I think as a 2-drop though, it's unlikely he would take chip damage