A slug beard sounds like something some evil cursed wizard would have. Writhing, slimy little creatures would cover his face similar to Medusa's hair snakes, except the slugs would be way grosser. See, with a normal beard you have the ability to catch savory morsels of food that somehow got lost on the way to your mouth. With a slug beard those tasty bits will be covered in that iridescent slime and rendered inedible. That's really the only drawback I can think of.
Paul Kaiju and Toy Art Gallery are unleashing this big honking piece of bubble gum-lookin vinyl onto the world on April 15th at noon pacific time. And it's not even a lottery, so you gotta have your eyes focused on www.toyartgallery.com when they drop, otherwise you will fall into a pit of despair. Not a literal pit, mind you, but a theoretical one which can be must worse.