This is mechanically separated chicken. Chickens are turned into this goop so we can create delicious chicken nuggets and juicy chicken patties. It's obscenely gross and borderline alien, but it's not going to stop me from eating nuggets. They're too good.
The process works a little something like this:
There's more: because it's crawling with bacteria, it will be washed with ammonia, soaked in it, actually. Then, because it tastes gross, it will be reflavored artificially. Then, because it is weirdly pink, it will be dyed with artificial colour.