Ibotenic acid is a naturally occurring compound found in certain mushrooms, particularly in the Amanita muscaria species, commonly known as the fly agaric. It is a neurotoxin that can affect the central nervous system, leading to various effects when ingested, including hallucinations and altered perceptions. When consumed, ibotenic acid can convert into another compound called muscarine, which has different effects on the body. While some people have used these mushrooms for their psychoactive properties, ibotenic acid can also cause nausea and other adverse reactions, making it important to approach with caution.