This sound comes from the battle escape cue in Pokémon Red, Blue and Yellow, the original main series games released on Game Boy in the late 1990s. Online, it spread through retro game edits, Pokémon memes, and short videos that joke about exiting a risky situation before consequences hit. It still works well because the chiptune style is instantly readable to many players, and the meaning is clear even to viewers who never played the games.