Amalgamation of "shit" and "meat", animal tissue engineered in a
petri dish, sponsored by
PETA, supposedly with the aim of replacing meat for consumption.
"
Shmeat is such a horrible name, it sounds like what you get when you
cross shit and meat." --
cdog, offalgood.com article comment
"If it looks like an egg yolk made of blood, it's
shmeat"