A chunk of meat is called a gib. Don't know the origin of this.
In many first person shooters, you hit someone hard enough, you "blow" their model into a rain of gibs and red particle trails that go flying off in all directions, based on the amount of "overkill" damage done. Hit somebody with a rocket when they're very low on health, and you get a nice shower. Hit somebody at 1 health with a Quad-strength rocket while carrying the Strength rune (8x damage) and they'll be picking his guts out of their teeth on the other side of the map.