Chomp is a post-effect. It processes the audio signal coming from any Source blocks connected to it by applying a ‘peaking’ audio filter. The filter’s frequency jumps between randomised values at a given rate, creating a ‘gurgling’ or glitchy quality.
In the Chomp’s options, ‘Rate’ sets the speed of the randomisation, ‘Width’ sets the spread of frequencies affected (known as the ‘Q’ or bandwidth property), and ‘Gain’ sets the amount that peaked frequencies are boosted by.