Trametes versicolor is saprotrophic, meaning it feeds off of decomposing organic matter. For obvious reasons, in the United States it is commonly referred to as Turkey Tail. It is considered to be medicinal, used in immunoadjuvant therapy for cancer in China, Japan and Europe. According to mycologist Paul Stamets it also has bioremediation potential. This means it has the potential to absorb toxic contaminants found in the natural environment and return ecosystems to their natural state. The immune booster Polysaccharide-K is absorbed from these mushrooms.