Grey Oyster Mushroom is a variant stemming from the Oyster Mushroom. Other variants include Hiratake and Tree Oyster Mushroom. It is mainly used in Japanese, Korean and Chinese cuisines as a delicacy. The best way to enjoy Oyster Mushrooms is to eat them while they are young. Individuals battling with high cholesterol may consider including more Oyster Mushrooms in their diet. Oyster Mushrooms naturally produce compounds called statins, which reduce “bad cholesterol” (LDL) by stimulating receptors in the liver to clear the lipids from the body.