Obtaining the Lock Capsule
As of the time of publication, there is no legitimate way to obtain the lock capsule item, so you have to use a cheat device such as an Action Replay. Since the item is present in the game's data, it's safe to assume that there will be a special event in the future that will unlock the item. Nintendo frequently holds these events to distribute new items and rare Pokemon to players.
In-Game Text
When you unlock the lock capsule with an Action Replay or similar device, the item appears just like any other in-game item. The option "View Lock Capsule Card" appears when the item is in your inventory, and the event data "The Lock Capsule is held in the strictest safekeeping" and "The Lock Capsule was delivered safely!" are associated with it. When you select the item, its description reads "A sturdy Capsule that can only be opened with a special key."
Opening the Lock Capsule
The item has no use whatsoever in "Pokemon SoulSilver." If you transfer the lock capsule to your "Pokemon Black" or "Pokemon White" game, however, you can open it. In these games, you must take the item to Mr. Lock in Castella City. When you present the lock capsule to him, he tells you that the item inside the lock capsule was placed there to protect it from Team Rocket, then he opens the capsule.
What's Inside
When Mr. Lock opens the lock capsule, you are presented with TM95, which you can use to teach one of your Pokemon "snarl," an attack that deals damage and reduces the opponent's special attack by one stage. If you use it during a double battle, snarl hits both enemies and, when used during a triple battle, snarl hits the enemies adjacent to the targeted Pokemon. TM95 can only be used once and can only teach snarl to one Pokemon.