BusyBodyHealth

It's said to be effective in treating upper respitory infections.

Direction: Put few drops of 3% hydrogen peroxide (H₂O₂) into one ear. You will hear some bubbling, and may be a slight sting sensation, which is normal. Wait for the bubbling and stinging to subside (5-10min), then drain onto a tissue and repeat with the other ear.

This can be effective 80% of the time, especially treated at the onset of the symptoms (within 12-14hr)¹.

Other amazing uses of hydrogen peroxide are here.

Reference:

http://busybodyhealth.com/index.php/recipes/household/hydrogen-peroxide-other-uses