"You turn into a
newt! Your
armor falls around you! You find you must drop your
weapon! --more--"
"
Demogorgon hits!
Demogorgon hits!
Demogorgon stings! --more--"
"You
die...--more--"
"
Do you want your possessions identified? [ynq] (y)"
Don't drink this in a combat situation unless you are truly desperate, as noted above.
This one of the only NetHack potions I can think of where blessed/cursed status is completely irrelevant. You quaff, you polymorph. You throw it at something else, they polymorph. Remember that polymorphing occasionally causes a system shock that deals you 30 damage immediately.
This potion is ineffective if you possess the unchanging intrinsic.