The most common target of Auras are creatures and lands. Some auras enhance the creature's stats (ie: Divine Favor), or give it additional abilities (ie: Consecrated by Blood, Call of the Full Moon). Other auras can be used to reduced an opposing creature's effectiveness, either by preventing it from participating in combat (ie: Suppression Bonds and similar cards), or adding some drawbacks to it. Auras that target lands usually augment its mana generating properties.
Auras are unique in that they are the only type of permanent card that requires a target to be cast as a spell. In any zone other than the stack, Auras do not have a target. Because of this, you cannot cast an Aura on an opponent's creature with hexproof, for example, but you can attach an Aura to such a creature if you can manage to put it onto the battlefield without casting it.
Auras can be removed from the objects they are attached to as a state-based action if the enchanted object stops meeting the enchantment condition. (say, if another player gains control of your creature enchanted with Inferno Fist) A second state-based action then moves the Aura to its owner's graveyard.
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