Widely suspected to be human flesh, no one knows exactly what it is, other than it looks and tastes strange. The presence of the item is often used in the game to indicate that those possessing it are cannibals.
It appears to be spongy bits of meat skewered onto a stick. It can restore some Hit Points, but also gives a small does of radiation when consumed. You do not lose Karma for eating it, even though it is likely human flesh.
You receive good Karma for killing hunters who sell strange meat.
Hunters will attack wastelanders and if the player loots their slain corpse, the player is considered stealing and the hunters will remark by exclaiming "Hey!".
When attacking you, a hunter says "I wanted to eat you from the beginning, but Jim said noooo."
If the player asks to buy food from the hunters and then closes the trade box they will gain the dialogue option to inquire "What kind of meat is that you're selling?" to which the hunter will respond "Ha ha ha, the very best kind. Here, try some, you've never tasted sweeter I'll warrant" and give the player a free piece of strange meat whether or not the player has previously bought any or all of the meat off the hunter.