I have an insanely hot pepper: now what?

Have you ever eaten something so hot it made you cry and felt like it'd never stop burning? Given what you've said you've tried, this thing is probably 10-100x as hot as the kind of pepper that would do that to you. Please be careful.

In any case, pretty much the sole point of a pepper like this is to try to be the hottest thing in the world. The amount of capsaicin is incredibly huge compared to the amount of other flavor in it; you're basically never going to taste anything but heat from it. So if you want to actually use it, just assume that the only thing you can do with it is make something hot.

I have a decent heat tolerance and love things with a bit of heat, but I still probably wouldn't bother. There are plenty of ways to add heat with much less risk of creating something completely inedible. If I really wanted to make use of it, I'd probably start with a very small quantity in a dish to try to get a sense for the heat level. This means using it in some kind of soup/stew/sauce where you can incrementally add things as you cook, not in something like a cake where you have to just go for it and possibly end up throwing away a whole cake. (For some peppers I might also try touching it to my tongue first, but I don't think I'd recommend that in this case.)

Finally, you can always try to cover it up by using it in a rich, fatty dish, e.g. a sauce with plenty of cream or coconut milk, but honestly, you'll still be lucky if you can taste anything from the pepper besides the heat.

The hottest part of the pepper is inside the actual fruit, the white veins (aka placenta) contains the highest concentration of capsaicin (the source of the 'heat').

If you carefully clean the pepper, removing the internals, even lightly scrapping the inner walls of the pepper, you will end up with a much more mild pepper. If you will go a step further and roast the cleaned pepper and use a paper towel immediately after roasting to absorb the oils that roasting brings to the surface, you will end up with a very flavorful, but not "too spicy" pepper which can be used in any variety of applications, such as chili or salsa, without overwhelming heat.

By "carefully" clean, I suggest wearing gloves, working a safe distance from anything else being prepared and thoroughly cleaning your work surface afterwards. DO NOT touch yourself (especially your eyes) with your gloved hands. (see http://shine.yahoo.com/shine-food/trinidad-moruga-scorpion-world-8217-hottest-pepper-eat-201500678.html... section "Safely Handling Chiles")

Wikipedia tells me that that is at about 1.2 million Scoville.

Pepper Spray used by law enforcement is generally 0.5-2 million Scovlille, generally to the lower end effectively as it is diluted to 5-10%.

Imagine applying paper spray to your food, instead of pepper.

I've had friends end chicken wings flavoured with sources that hot, to show their "manlyness". Every one of them ended up crying ("like little girls"), from agony. Describing it as more pain than they could have imagined. After seeing their pain, I felt it would have been a greater mercy have beaten them into unconsciousness, than to have allowed them to consume that food. There is no flavor, there is only pain.

In short, unless you are a phenomenal chili head, that chili is little most than a novelty.

As such a novelty, your might like to attempt to grow your own from the one your were given. So you can point out to guests that that is a chili that is most dangerous than many controlled substances.