An item that appears in Earthbound. It is first located and sold at the Onett Drugstore. It only cures a status ailment known as Sneezing. This item appears in most drugstores and can be bought and sold at a fairly cheap price. In Peaceful Rest Valley, there are Li'l UFOs which can give you Sneezing with a beam attack.
If Cold Remedy is used in battle, without the Sneezing debuff, it will only be wasted.