Has anyone seen the ring $\Lambda[x_0, x_1, x_2, \ldots]/(x_i x_j - (i+1) x_0 x_{i+j})$ in some natural context?
Here $\Lambda[x_0, x_1, x_2, \ldots]$ is the (graded-)commutative algebra (either over the integers or the integers localized at 2) freely generated by elements $x_0,x_1,x_2,\ldots$ of odd homological degrees, so that $x_i x_j = - x_j x_i$. In particular, we only get $2 x_i^2 = 0$, not $x_i^2 = 0$. I probably shouldn't write $\Lambda$ here: in characteristic $2$ or integrally, $\Lambda$ usually adds the relation $x_i^2 = 0$.
ADDED NOTE: In the meantime, I have found a better way of solving the problem in which this arose, so it is merely a curiosity now. I am happy to delete it if people wish.
Forgive me for posting this to 'Commutative algebra', but as a topologist, commutative means $x y = (-1)^{(\deg x)(\deg y)} yx$, and my $x_i$ are in odd degrees.
SECOND NOTE: This algebra has now shown up in another context, so Vladimir's answer below has been quite useful. Thanks to Vladimir and MO.