It will make you look like a "job hopper" to some people if you list it on your resume. Consider how large of an employment gap will appear on your resume if you leave it out. A short stay at just this one job is not exactly a trend, so if you have several other jobs that you didn't stay long, this could make it look worse.
Early in someone's career, I would give some consideration to someone who took a job that didn't work out. You could discuss this in a cover letter. It's a sign of being up front and honest. People always ask in interviews to get some anecdotal information on how you handle problems and what are your areas of weakness. You know it can look bad, but indicate you've learned from the mistake and how you and the former company will be better off in the long run. Basically, you now know what you want in a job.
Do you really want to work for people who are going to hold this against you without considering your other strengths?