Eye of The Colossus - More info here and here
This item allows players to witness battles through the eyes of the Colossus they are fighting. Though removed from the final game, it is semi-functional in the Preview version, an unfinished demo of the title leaked online.
Players must be in range of a Colossus before they are able to use the item, activated by pressing R3 on the controller. If the giant is too far away, a low ‘beep’ will sound when the button is pushed, indicating that one must move closer. Full control the camera is impossible while using the Eye, but pressing R2 causes it to zoom in and out.
The Eye of the Colossus can even be used before a Colossus awakens, if players can get close enough to one without triggering the battle to start. Doing this results in a stationary frame of what the Colossus sees. Then, players can watch it come to life from its point of view.
If activated while a Colossus is dying, the Eye morbidly allows players to glimpse Colossus’s view of its own death. This also permits players control of Wander as the giant is dying, which normally isn’t possible.
Because the item is unfinished, it does not always function properly. It seems to work well in the battles with Colossi 1, 4, 5, 6, 13, and 15. When used in fights with the other Colossi, however, the camera sinks down into the creatures’ bodies, then rises back out again. Mysteriously, it does not function on Colossus 3 at all.