If a strip of clean magnesium metal were placed in a copper sulphate solution, the magnesium metal would displace the copper from solution since magnesium is a more active metal than copper.
The magnesium metal strip would disintegrate while solid copper would be deposited
As Cu2+ ions are removed from solution, the solution would become a paler blue in colour.
The magnesium metal would donate electrons.
Mg(s) -----> Mg2+(aq) + 2e   E0 = +2.36V
Magnesium metal is being oxidised (losing electrons) therefore it is the reductant.
The copper ions in solution would accept electrons forming solid copper.
Cu2+(aq) + 2e -----> Cu(s)   E0 = +0.34V
Copper ions are being reduced (gaining electrons) therefore the copper ions are the oxidant.
The overall equation would be:
Mg(s) + Cu2+(aq) -----> Mg2+(aq) + Cu(s)
E0 = +2.36 V + +0.34 V = +2.70V
The positive value for E0 indicates a spontaneous reaction will occur.