Upon opening the box the Family Spellbook and Wand Charger will appear next to the box. Add the other items in the box to your inventory. The box comes with the ingredients needed to cast the Toadification spell. I should also note now, that the more logic and/or mechanical skills a Sim has, the greater the chance of a good outcome when casting a spell.
Click on the Wand Charger, and add Butter, Toadstools, and Toad Sweat. After all 3 ingredients are in the charger, choose Charge Wand.
Now pick a Sim to cast your spell on. Click the victim, er.. Sim, choose Cast and then Toadification. The Sim will then temporary turn into a toad.
How many charges you have a cast depends on a Sim's cooking skill, while how many casts from a charm depends on a Sim's mechanical skill.

