Well, that's a tough one to answer. That mushroom is
Amanitia muscaria- the famed, "deadly mushroom." It's the one that got painted on the outside of every cheap ceramic cookie jar from the 50s. And the one that Alice and Wonderland wouldn't have been the same without.
A. muscaria contains two infamous compounds- Amatoxins and Muscimol. Amatoxins are what everyone is afraid of ingesting and they have good right. Although,
A. muscaria doesn't contain enough to most likely kill the average healthy adult- you'd wish you were dead if you ate one, though
Muscimol is the psychoactive compound contained in this mushroom that gives truth to the legend and lore about prancing through Fantasia land with fairies and elves. There have been, and still are some folks who have eaten this mushroom for these purposes. Through, it can NOT be recommended. Through a process I won't get into for safety's sake, their goal is to try and isolate the Muscimol while voiding the Amatoxins.
Shamen in the PNW and all over the planet have used this mushroom "safely" for centuries,
BUT in no way would I ever consider eating this mushroom, or ever recommend that it be eaten... processed or not.
On a funny note- North American Natives would often wait for this mushroom to emerge in the fall to hunt elk. They believed that the elk were eating this fungi and were much easier to harvest when zoinked.
And on a sadder note- Lore goes that European Royalty used to have this mushroom fed to peasants. The Kings and Queens would then drink the urine of the extremely ill peasant, believing that the peasants liver would have filtered out all of the Amatoxins, and left some Muscimol.