If another effect sets Sanguine Statuette's power and/or toughness to another number, sacrificing a Blood token will set it back to 3/3. However, it would still be subject to any increases or reductions that are applying, as described above.

If after becoming a creature, Sanguine Statuette becomes subject to an effect that reduces or increases its toughness, sacrificing another Blood token won't allow you to counteract that effect. For example, if a resolving spell gives it -2/-2 until end of turn, it will be a 1/1 creature, even if you set its power to 3/3 again.

If an effect refers to a Blood token, it means any artifact token with the subtype Blood, even if it has gained other subtypes.

Some triggered abilities trigger "whenever you sacrifice a Blood token." These abilities trigger regardless of why you sacrificed that Blood token.

You can't sacrifice a Blood token to pay multiple costs.