Nickname of Augustus Owsley Stanley III, one of the biggest and most prolific LSD manufacturers in history and onetime Grateful Dead soundman and graphic artist. Back in the day Owsley's Acid was always considered the epitome of the acid market. If you had Owsley's shit, you were the hip to the grooviest, high status, and most definitely 'with it.' The Beatles dropped Owsley's Acid; shouldn't you?