I just watched a Pride Fighting Championship bout from 6-8-03 between Don “The Predator” Frye and Mark “The Hammer” Coleman. Between rounds Frye was given some sort of inhalant (there may be a video of the fight online, but I haven’t foud it yet). It was in an aerosol looking can, white with blue lettering. The partial logo that was visible looked like the Asics logo. Asics makes lots of wrestling shoes, so it stands to reason. The mouthpiece was very large. All I could think of was that maybe it was oxygen, but that doesn’t really fit the circumstances. So, what could it have been?
Not sure by your description, but maybe it’s a bronchiodialator, usually used for asthma, but possibly effective in enabling the fighter to get more oxygen.
*Eau de * size 14?
Could be he was sucking on a big ol’ Asics advertising prop, and getting paid for it.