A single-stage regulator "failed" while flowing hydrogen gas from a standard 200 cu.ft. gas bottle. The regulator had functioned properly prior to the event through several on-off cycles. During the event, a solenoid valve was opened to allow hydrogen to flow, when a rather loud noise was noted and gas began flowing out of the pressure relief valve on the side of the regulator. It was noted that the low-pressure gauge on the regulator was "pegged" at the high side (>200 psi). The valve on the bottle was shut off, and hydrogen flow was immediately stopped.