Rotten Chunk

Rotten Chunks are crafting materials that drop from Eaters of Souls, Devourers, Corruptors, and on the Nintendo 3DS version, the Eater of Worlds.

Crafting[]

Result	Ingredients	Crafting station
Monster Lasagna	Rotten Chunk8	Cooking Pot or Cauldron
Worm Food	Vile Powder30 Rotten Chunk15	Demon Altar or Crimson Altar
Coffin Minecart	Any Iron Bar5 Any Wood10 Rotten Chunk10	Iron Anvil or Lead Anvil and Ecto Mist
Timeless Traveler's Cloak	Silk20 Rotten Chunk10 Black Dye	Loom
Timeless Traveler's Footwear	Silk20 Rotten Chunk10 Black Dye	Loom
Mechanical Worm	Rotten Chunk6 Any Iron Bar5 Soul of Night6	Mythril Anvil or Orichalcum Anvil
Battle Potion	Bottled Water Deathweed Rotten Chunk	Placed Bottle or Alchemy Table
Leather	Rotten Chunk5	Work Bench

Though the tooltip says "'Looks tasty!'", Rotten Chunks cannot be eaten. Instead, it can be crafted into Monster Lasagna, which actually can be eaten.
The tooltip could possibly be a reference to how Rotten Chunks are used in Worm Food, which summons the Eater of Worlds.
The Corrupt Statue makes Rotten Chunks available even in Crimson worlds, which allows crafting of Leather in such worlds.