There are some vague or non-exact figures and information on this page. Some spading is required.
Probability of Mer-kin lunchbox? Are there other things you can get?
pulled red taffy
This is a wad of red taffy. It's either cherry, cinnamon, or strawberry flavored. The lazy iconography of the candy industry means you'll have to take your chances.
Type: potion (can also be used in combat) Selling Price: 5 Meat. Effect: Cinnamon Challenger (10 Adventures)Moxie +X/2 +X/10 Moxie Stats Per Fight
You toss the taffy, and the salt water soaks into it. A red herring swims up and eats the taffy while looking at you meaningfully.
If you've already summoned a taffy fish this fight:
You've already fed a fish some taffy this fight. And you know what they say: "Feed a fish a taffy, he'll be your friend for a fight. Feed a different fish a taffy during the same fight, you can't do that."
Otherwise:
You toss the taffy into the air, but nothing happens. You remember people talking about how great salt-water taffy is -- maybe if you tried using this underwater...
Notes
At the end of combat with a red herring summoned, you'll receive one of the following items:
The red herring whispers "This is important," and gives you an item before disappearing into the murky depths.
At an unknown down on or before August 1, 2014, the text when using this underwater for the first time that fight was changed from:
You summon a red herring.
References
A red herring is an idiom referring to something that misleads or distracts from the relevant issue, as none of the items it gives you are particularly important.