If White plays in this position, Black can capture the three white stones and live unconditionally. So, the best White can get from playing is a ko threat.

On the other hand, Black can force the position to repeat.

1. Black plays in the corner at the 1-1 point. White is in atari.
2. White captures two. Black is in atari.
3. Black captures one, recreating the original position.

So, if Black is losing by less than the value capturing White and living (five points, probably less), Black can play at that 1-1 point to force a drawn or no result game. The outcome depends upon the rule set and how it handles repeating positions. Each repeat costs Black a point, because White is capturing two for each single stone Black captures.

No known area rules in actual use would allow endless repetition by Sending Two, Returning One. It's a seki.