First time trying Vegemite! 🧐 Vegemite is one of several yeast extract spreads sold in Australia. It is made from leftover brewers’ yeast extract (a by-product of beer manufacture) and various vegetable and spice additives. It is very dark reddish-brown, almost black, in color, and one of the richest sources known of Vitamin B. It is thick like peanut butter, it is very salty, and it tastes like – well let’s just say that it is an acquired taste!