This room gets its name from the anti-fairy in the bottom-right corner of the room, sometimes known affectionately as "Bob". This room shares a supertile with the Bob's Torch room, causing a peculiar graphical interaction where the anti-fairy will take on a glitched appearance if (and only if) the item on "Bob's Torch" is left uncollected.
This is purely a graphical oddity; the anti-fairy itself behaves in the same way as normal. If you look closely you'll recognize the upper-right corner of a heart piece as part of the graphical data displayed as "Bob".
This behavior is specific to the randomizer and does not exist in the vanilla game.
Usually the goal in this screen is to bomb the floor, collect the chest, and drop through while avoiding the anti-fairy.
The "fast" strat shown here drops a bomb in front of the Ganon statue and picks up the pot before the anti-fairy bounces against it, timing Link's movement to follow the anti-fairy and pick up the chest before it bounces back to the left.
The "safe" strat instead drops the bomb when Link is above the pot, allowing the anti-fairy to bounce on the pot before lifting it. This changes the anti-fairy's movement pattern, allowing Link to move down and then right to avoid it. This loses about half a second, but can be easier to execute.
Picking up a pot during the first four possible frames after throwing a bomb (6-10 frames after the toss) will cause the bomb to travel father than normal, missing the bombable floor entirely. One potential visual cue for when the pot can be safely lifted is when the bomb sprite starts to touch the pot sprite (happens around 15 frames after tossing the bomb).
If the chest is not needed (in a vanilla speedrun, for example), this strat can be used instead where the bomb can be dropped as soon as possible on entering the room. The pot is lifted just before the anti-fairy bounces against it.
Moving right here is optional (bombs have a square hitbox, so it does not help with avoiding the explosion), but can be done to normalize Link's horizontal position when dropping down into the next room when compared with strategies that open the chest before falling.
Note that holding right will cause Link to enter a pushing animation, which prevents him from falling into the pit, so it's important to let go of the d-pad immediately once Link is in place next to the chest to avoid this.
If the magic powder is available, it can be used on the anti-fairy to simplify the room and provide a health refill. The anti-fairy can be powdered through the column of blocks immediately upon entering the room, as shown in the above two videos.
The room time is about even with the "safe" strat if collecting the chest. If skipping the chest, the time loss is negligible compared to the normal strat.
If extra arrows are needed (e.g. for the upcoming Ice Armos fight) or if a bomb pickup is needed, one of the two above strats can be used, at the cost of about 1.5-2 seconds.