Step 1: Understanding Holme's signal.
Holme’s signals involve the use of phosphine (PH$_3$), a toxic gas with a characteristic odor. PH$_3$ is used in various chemical applications, including the detection of certain elements in analytical chemistry.
Step 2: Analyzing the options.
(A) Ne: Neon is an inert gas and is not used in Holme’s signals.
(B) PH$_3$: This is the correct answer, as phosphine is indeed used in Holme’s signals.
(C) H$_2$Se: Hydrogen selenide is a toxic gas but not typically associated with Holme’s signals.
(D) P$_4$O$_{10$:} Phosphorus pentoxide is a drying agent, not used in Holme’s signals.
Step 3: Conclusion.
The correct answer is (B) PH$_3$ as it is the compound used in Holme’s signals.