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1.
Meat of such dubious quality it has to be from the face of an animal. Found in McDonalds food and eyebrow raisingly cheap meat from a supermarket's budget brand. Facemeat can also contain trotters, ears and anus, basically anything that's kicking around on a factory floor. Formally known as 'Processed' meat or food. Facemeat can also apply to low quality foodstuffs, including fruit juice which would be called 'Facejuice'
Person 1: "Do you want a Spam sandwich?"
Person 2: "No, I don't do facemeat!"

by Marcus Burscough March 10, 2008
 
2.
The skin/meat on ones face.
Holy shit! Dave just got punched in the FaceMeat by Lou Ferrigno.
by BigTerryBlack June 05, 2010