(hex:75) is a glitch item in Pokémon Red and Blue.Using this glitch item with a 0x50 sub-tile outside of battle early in the saved screen data may cause the game to freeze.
As it is an unterminated name glitch item, it has effects associated with those items, and can be used for screen data exploits like LOL glitch, Yami Shop glitch or will usually cause the TMTRAINER effect in battle.
If both the 0x50 sub-tile is earlier on the screen and the glitch item is used in battle, then it is possible to use this glitch item as a partial escape glitch item. However, it is unknown how to get this to work without the GameShark code 0150A0C3 or theoretically OAM DMA hijacking.