I got one of those yesterday. I was so happy. It gave me the Tediore Baby Maker. It's awesome. When you throw it and it explodes, another one bounces out in a random direction and explodes again for the same damage. On large enemies, it usually explodes both at once with a direct hit.
Now if only it were higher than level 22...
That's what Madame Von Bartlesby is for.
Related: If you're on PC, friend me and join a game with my Salvador -- I've got three L50 'Makers that I'll be disposing of once I convince Her Royal Stuck-Uppedness to drop the Fire variant rather than just Shock and Bullet.