Can someone tell me what's wrong with my script?

You forgot to connect the event to the function, and forgot an end, thus the script did not work;

local Health = 150
local Speed = 50
local Teleport = game.Workspace:WaitForChild("NarutoTeleport")
local Debounce = true
local timeForDebounce = 2

local function NarutoGiver(Part)
--script.Disabled = true -- This'll disable the script before it even fires. :/
if game.Players:GetPlayerFromCharacter(Part.Parent) and Debounce then
Debounce = false
Player = game.Players:GetPlayerFromCharacter(Part.Parent)
R = game.Lighting:WaitForChild("Rasengan"):Clone()
R.Parent = Player:WaitForChild("Backpack")
Player.Character:WaitForChild("Humanoid").MaxHealth = Health
Player.Character:WaitForChild("Humanoid").Health = Player.Character:WaitForChild("Humanoid").MaxHealth
Player.Character:WaitForChild("Humanoid").WalkSpeed = Speed
Player.Character:MoveTo(game.Workspace.NarutoTeleport.Position)
wait(timeForDebounce)
Debounce = true
end
end

game.Workspace.WhateverNameHere:connect(NarutoGiver)

Kind of edited your script, but it should work now. Hope this helped!