Equipped creature has intimidate.
Now this the type of common equipment I like to see. Reasonably costed with a reasonable equip cost that has the power to give your best creature one of the best forms of evasion in the game. Unlike Gruesome Deformity, it's an equipment card and not an aura, the risk of it getting 2-for-1'd is virtually non-existent. I think this card is very good.
Whenever you have the ability to give a creature intimidate, I think the first thing you have to realize that colorless creatures benefit the most from this ability. With intimidate, they can only be blocked by artifact creatures. So if you're going to build a deck which features Executioner's Hoods, I think you should consider including the biggest, baddest artifact or eldrazi creatures that fit your deck best. If you're playing limited, I think you could consider first picking Galvanic Juggernaut over almost any other uncommon if you have the chance.
Executioner's Hood + artifact creatures = maximum beats.