From gizmodo.com

MONDAY, AUG 2 2004

Shark Repellant That Just Might Work

I'd always thought "shark repellant" was just sort of an ACMEesque joke product, but apparently there have been a variety of products available for just such a purpose as far back as World War II. The downside of these repellents, though - and this is a pretty big downside - is that they generally didn't work. Now a pair of researchers have developed a new goop that appears to be effective at chasing away at least four species of sharks for up to two hours with just four ounces in the water (tiny, defenseless handheld sharks judging by the picture).

The shark-scaring slime is actually (at least partially) extract from dead sharks, gathered from New Jersey fish markets. No word yet if sharks from other fish markets will create something so foul smelling or if New Jersey is an integral part of the formula.

Read - Shark repellent tested in Bahamas [CNN]