I’d never heard of it before you asked, OP. For others who were confused, Milo is a chocolate malt drink mix, not unlike Ovaltine or Nesquik in the US, which originated in Australia.

Besides a mix-in for milk and coffee beverages, it seems you can use it for ice cream (as a topping or as a flavoring in a homemade batch), in baked goods, puddings, oatmeal/porridge (I might try that!), fudge recipes and as an add-in for crumbles like you might use in graham cracker crusts. You can also use it as a flavoring in puffed rice cereal bars (Rice Krispie treats in the US) and probably on those sorts.of cereals directly.

Now I’m giving that can of Ovaltine in my own cabinet another look. Thanks, OP!

Ok as an Australian allow me to weigh in.

Firstly, you need more than looks reasonable at all times. This is not a health food.

Its excelent on vanilla ice cream.

It doesnt mix well in cold milk or cold water, so put some in a cup (more than you think is reasonable) and then either add hot milk or enough hot water to break it down and then add cold milk. It takes a vigorous stirring so use a cup big enough to allow you to go to town.

Sprinkle over ice cream.

I’ve added some to the dry mix of pancakes in the past, which was quite nice

Blend it with milk! Heat it for better taste