After you either defeat or catch the Red Gyarados in Johto at Lake of Rage, you will obtain a Red Scale that will automatically go into the Key Items section of your Bag. Now, go to Mr. Pokemon's house and speak 2 him. He will offer to trade you an Exp. Share for your Red Scale.
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In SoulSilver, Mr. Pokémon will give you the Exp. Share in exchange for the Red Scale that you had received after defeating or catching the Red Gyarados.
give the exp share to a weak Pokemon when you use any Pokemon to fight exp goes to the fighting Pokemon and the 1 with the exp share.
After catching or defeating the red Gyrados at the Lake of Rage, pick up the red scale left behind and take it to Mr. Pokemon, who will trade it for the Exp. Share.
the egg that hatches into togepi take togepi and let the professer see togepi then he gives you 1
Its a item that you give to a Pokemon and it gives the Pokemon that you gave the exp share to exp points to help a Pokemon gain levels