Monster Meat is a Food item obtained by killing most Monsters. Most monsters will drop Monster Meat at least 50% of the time, otherwise dropping their special resources (for example Spiders also drop Silk and Spider Gland). Although edible, they are toxic and will reduce Health and Sanity when consumed.
Cooked Monster Meat is Monster Meat that has been cooked on a Campfire, Fire Pit or Star. It can also be put in a Crock Pot to be used in multiple recipes.
Mobs that ordinarily drop Monster Meat and die from being set on fire, will drop a Cooked Monster Meat instead.
Cooking Monster Meat on a Campfire/Fire Pit or drying it on a Drying Rack to make a Monster Jerky reduces its toxic effects. Additionally, one raw, cooked, or dried Monster Meat (or Durian) can be used as a meat/filler in Crock Pot recipes with no toxic effects. It should be noted however that using more than 1 piece of Monster Meat (or Durian) in a Crock Pot will typically result in Monster Lasagna, which is just as toxic as eating raw monster meat, with a large sanity drain penalty.
Monster Meat can be used as bait for meat-eating creatures. Giving Monster Meat to a Pig will befriend it. When 4 pieces of Monster Meat are fed to a Pig, it will transform into a Werepig and become hostile. This can sometimes happen accidentally when Pig Villages are close to Spider Dens, as Pigs will eat the Monster Meat from Spiders they kill.
Cooked Monster Meat or Monster Jerky can be fed to caged birds to produce eggs. A single piece of Monster Meat can be used in a number of Crock Pot recipes without producing side-effects. One of the best ways to use up large quantities of Monster Meat is by cooking Bacon and Eggs or Fishsticks which can use up 2 pieces per dish.
Monster Meat farming is a very practical thing to do especially in the earlier stages of the game because it is very easy and effective.
Contrary to popular belief, WX-78 still takes damage when it eats this.
Monster Meat is possibly the greatest of the Crock Pot ingredients/fillers, as it has a meat value of 1, can be turned into jerky and can be made into Eggs with a Bird Cage. It's very possible, but impractical, to survive off Monster Meat alone, as it can be made into Meatballs when combined with Eggs at a 1:3 ratio.
This is impractical since it would only take a single Morsel to make Bacon and Eggs, which would be more beneficial than Meatballs. The only reason to do this sort of survival style is if you are low on supplies or the area is deprived of mobs which drop Morsels.
When playing as Wolfgang, it is possible to gain more health from being mighty than lost from eating cooked monster meat. Though when going back to normal his health will be lower than it was.
Webber starts with 2 Monster Meat and suffers no Health or sanity penalties when eating it. Unlike other characters, cooking the Monster Meat before consuming it provides no bonuses to Webber aside from increased spoiling time.
Despite not actually being a monster, Glommer drops Monster Meat upon death.