I met a chef at a party once who had been asked to prepare a meal with placenta for her friend who had just given birth and her husband.
She said it reminded her a bit of liver so she prepared it a bit like a liver dish - sauted it very lightly with a few other ingedients for flavour.
I wish I'd asked her how it tasted but I was too busy getting over the mental image of sitting down to lightly sauted placenta.
TBH I wouldn't eat it but I do regret not burying mine. It was something that just slipped my mind at the time (both times) and I never put it in a birth plan.