This is a can of secret and mysterious spices. It could be used to give something a secret and/or mysterious flavor. If you can control this, you can control the universe! Well, probably not.
Is not lost when used in combat nor when used from inventory, but is lost when cooked into a recipe.
The Spice Loop used to be an easy way to collect large amounts of spice. As of October 3rd, 2006, the number of clovers per day that can be acquired with the loop is drastically reduced, but the loop still works for a few spices each day.
This item used to do 2-3 damage in combat. The item description used to be:
"This is a can of secret and mysterious spices. It could be used to give something a secret and/or mysterious flavor."
References
The line "If you can control this, you can control the universe!" is a reference to the "spice drug" melange from the Dune novels.