It has blood-red color, indicative of destabilized ylides.
The first step is P-alkylation with chloromethyl methyl ether.
In the second step, the resulting phosphonium salt is deprotonated.
This reagent reacts with a ketone or aldehyde in a Wittig reaction to give an enol ether, which can be converted to the aldehyde by acid-induced hydrolysis.
The initial report of the reaction demonstrated its use on the steroid tigogenone.