I have seen this “opening” called the Hawaiian Orangutan Attack and the Kadas Opening, but generally it's referred to after the Desprez Opening named after the French player Marcel Desprez. Gabor Kadas is a fairly strong Hungarian master who has picked up quite a few GM scalps using 1.h4; I do not know anything about Desprez.
The Chess For Novices site explains it thus: the Desprez is complete garbage for several reasons:
1) White has not furthered the development of any pieces - save his King's Rook, which actually is better developed through castling K-side.
2) White has not claimed a share of the center.
3) White has handed the initiative over to black.
4) White has weakened his King's castled position by moving a K-side pawn.
For a GM example of how to play this opening visit the Chess Academy of Timur (Cat). That's GM Timur Gareev's blog and he annotates a real game using this opening! In that game a 2500 rated GM defeats an Expert (2000 rated) player which shows that the difference in playing strength trumps the merits of the opening.