(hex:8E) is a glitch item in Pokémon Red and Blue. It is both an unterminated name glitch item and a Rival's effect glitch item.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.
Using this glitch item outside of battle with a 0x50 sub-tile early enough on the screen will open up the Pokémon menu and enable the Rival's effect. Using it on a Pokémon will restore 80 HP (the same as a Lemonade) and use up one of the glitch item. If the same applies in battle (via GameShark code 0150A0C3 or theoretically OAM DMA hijacking) then it will also heal 80 HP.