Something you eat/drink for status such as French wine. No one actually likes it, as much as they say it's good.
During a social gathering, one leans over and whispers into friend's ear, "What's with this nasty-ass wine/rotten cheese?". Friend replys, "It has an aquired taste."
A fancy/polite way of saying something taste like shit and is nasty or gross.
Person at restraunt"my this Feta chese salad has an aquired taste"
aposed to saying "man this Feta chese taste like shit"