"3-in-One" debuted during the first great bike boom in 1894, making it one of the oldest cycling products you can still buy. The oil was originally intended for bicycle chains, and the name indicated it "1) cleaned, 2) lubricated and 3) rust proofed", hence, 3-in-One.
3-in-One (original formulation) contains pale spindle oil, a small amount of corrosion inhibitor and a vegetable based component, citronella oil (ever notice the way 3-in-One smells?). While the original product remains available, these days the company also makes several other lubrications like "3-in-One Motor Oil", "3-in-One Professional Lubricant Spray with PTFE", and also the WD-40 family of products.
tcs
Fun fact: In the 1920s, pioneer American Birth control advocate Margaret Sanger was married to then president of the 3-in-One Oil company, J. Noah Slee. She smuggled illegal European-made diaphragms into the USA in secretly coded barrels of the citronella oil imported by 3-in-One.