In radio we call it a spec spot. It's a produced commercial that the client may or may not air. This happens in the television world as well as this ad was just named Spec (speculative) ad of the year by (AICP), the Association of Independent Commercial Producers. Apparently some felt the ad had a 'hate children' feel to it so it never saw the light of a television screen.

According to Buzzfeed:

It is a masterfully produced ad, directed by Paul Santana.
The four home scenarios are all so different, but all end with a painful yet hilarious crotch shot.
“Protect Yourself” indeed.

What do you think? You don't 'hate children', do you? Just kidding...pun intended.