It's an Australian / British brand of industrial coating and/or axle bearing grease eaten by the inhabitants there when they're lost in the desert and run out of Dinky Di brand dog food, although most people when presented with the option of starving to death or eating Vegemite, choose death.
It's made from fermented roadkill, shredded tires and pondscum and is sometimes used on horses hooves to kill parasites. It can also be used as a rust inhibitor on cars or to seal severed limbs of trees and must be disposed of as toxic waste like mercury and cadmium which are both less hazardous.
Some people claim to like it but they are not from Earth or are zombies and should be viewed with great suspicion.
It's more of a warning than an actual foodstuff.