Although I have no personal experience with this sort of thing I've heard that these make a fine tea.
http://www.iamshaman.com/eshop/10Browse ... ied%20Caps
Besides the brightly colored and large fruiting bodies, there is substantial interest in this mushroom because it is poisonous and hallucinogenic. Most fruiting bodies contain two toxins, ibotenic acid and muscimol. Ingestion of these toxins results in "expanded perception," talking to God, macropsia (perceiving objects as enlarged), rapid heartbeat, dry mouth. They are hallucinogenic and psychoactive, acting on the nervous system as neuropeptide receptors. (For those of your interested in neurobiology, muscimol is a substrate analog for GABA [gamma-amino-butyric acid], and ibotenate is a substrate analog for NMDA [N-methyl-D-aspartic acid]). GABA normally acts as a neurotransmitter and NMDA acts as glutamate receptor responsible for learning in a part of the brain known as the amygdala. The amygdala is the part of the brain responsible for fear. Studies in rats have shown that the inactivation of this area of the brain through the use of muscimol and ibotenate will inhibit fear learning and the startle reflex. Eating the mushrooms effective turn off the fear emotion. [Many thanks to Brad Seebach, the neurobiologist in my department, for help with this section]
These mushrooms were effectively used by the Vikings when they were getting ready to invade a land. The Vikings essentially turned off their fear emotions, thus gaining their reputation for their fierceness. The people of many cultures of northern Europe lived in constant fear of invasion. Vikings would enter a village fearlessly, wreak havoc among the people and carry off the women. Before entering battle, the Vikings would go through a religious ritual in which they would dance around the woods and consume Amanita muscaria. So the main reason the Vikings were able to fight without fear is that they were on drugs! For this reason the Vikings were also known as the berserkers.
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As it turns out the Vikings were lucky that they didn't have to endure a lot of nasty side effects. In many parts of the world these mushrooms also contain toxins that make a person violently ill. This substance is apparently metabolized by the body while the hallucinogens are passed through the body unchanged. For that reason, some people used to drink the urine of other people (or animals) who had ingested the mushrooms, to get high without any of those nasty side effects. Some specimens contain a great deal of the chemical that makes you sick and very little of the hallucinogen. It can also be easily mistaken for Amanita pantherina or other Amanita species that are deadly poisonous. For these reasons I do NOT recommend recreational use of this mushroom and claim no responsibility if you foolishly decide to do so. (how's that for a disclaimer?)
For that reason, some people used to drink the urine of other people (or animals) who had ingested the mushrooms, to get high without any of those nasty side effects.