I actually have no idea what they're used for, but since I don't have them I may as well get them for the lolz. I know what the Reaper Cloth does, but didn't research the other two.
Absorb Bulb raises Special Attack by one when hit by a water type move. You still take damage though. Red Card is an item that makes a pokemon that attacks you get switched out as if you had used Whirlwind. Won't switch them if they knock you out though.