Photo: Tim Dustrude/Dustrude
Photography
I would've answered "fleshy deliciousness" (sorry, vegetarians!). That, or magic. But the folks at the USDA spoiled the fun by explaining it with science.
From Taylor Orci's post over at The Atlantic:
According to the USDA, "When light hits a slice of meat, it splits into colors like a rainbow." This is something called a "diffraction grating," essentially what happens when light waves bend or spread around a surface and create a pattern. It's the same thing that happens to make rainbows on the surface of a DVD. It's understandable that folks mistake diffracted light as a sign of spoilage, especially since the main color created by meat diffraction gratings is green. There is a reason why in Dr. Seuss's Green Eggs and Ham, the central conflict of the protagonist is his strong apprehension against eating green meat.
The effect likely comes not from diffraction as seen on a CD, but from thin film wave interference. The Naked Scientist (link below) has the best, quick description that I could find. Google "Oil Rainbow Effect" to get more information.
http://www.thenakedscientists.com/HTML/questions/question/1708/