The formula for the volume of a pyramid is V = (1/3) * B * h, where B is the area of the base and h is the height of the pyramid.
In this case, the base is a square with edge length 2 cm, so its area is B = 2^2 = 4 cm^2. The height of the pyramid is given as h = 3.75 cm.
Substituting these values into the formula, we get:
V = (1/3) * 4 cm^2 * 3.75 cm
V = 5 cm^3
Therefore, the volume of the oblique pyramid is 5 cm^3.