Kitchen Sink fan Igal Gabbay tipped us off to this naming mistake from our friends down under...
Vegemite maker Kraft Foods has binned the name of its new product line iSnack 2.0.
In a statement this afternoon, the company said it had listened to the public and would go back to the drawing board.
An announcement about another name will be made on Friday.
"We have been overwhelmed by the passion for Vegemite and the new product," said Kraft Foods Australia/New Zealand head of corporate affairs, Simon Talbot.
"The new name has simply not resonated with Australians. Particularly the modern technical aspects associated with it."
iSnack 2.0 was chosen from 48,000 suggestions made as part of a public naming competition run by the company.
It has been roundly lambasted by the consumer public, however, spawning Facebook hate groups, blogs and angry Tweets on micro-blogging site Twitter.
T-shirts trashing the name have also gone on sale on the internet.
Vegemite has been manufactured in Australia since 1923. The new variant, launched in July under a 'Name Me' label, includes a cream cheese blend to make it more spreadable.
Kraft has denied the naming disaster was an attempt to gain free publicity for the product, which was due to go on sale with the new label today.
"At no point in time has the new Vegemite name been about initiating a media publicity stunt," Mr Talbot said.
"We are proud custodians of Vegemite, and have always been aware that it is the people's brand and a national icon.
"Our Kraft Foods storeroom currently has thousands of jars of the iSnack2.0 named Vegemite. This product will be distributed around Australia, and will continue to be sold in supermarkets for months to come - until Australia decides upon a new name."
Consumers in Australia and New Zealand will get another go at choosing a name, he said.
"Please bear with us for the next 48 hours as we finalise how Australians and New Zealanders can decide the new name through an independent popularity vote."