What's Up With This Lincoln Cent?

Natural, it is often called a woody.

woodgrain
Resulted from impurities in the alloy or concentrations of pure copper that did not properly blend with the 5% tin and zinc added to it. When these less than perfect ingots were rolled into strip, from which blanks would later be punched, the concentrations were flattened and stretched into the patterns seen on the finished coins. Invisible when first struck, these flaws appeared only after the coin was exposed to atmospheric agents that caused the copper concentrations to tone more quickly than the properly mixed portions of the planchet.

....from the CCF glossary

Horrible pictures, looks to have been cleaned at some point, far too grainy. Yes, it has some woody characteristics, but it has been compromised somehow. Very likely that someone didn't like the woody look and tried to remove it.....and failed.

Hopefully the pics' make it look worse, but there looks to have been some tampering with this coin. Coinfrog is right! strange looking, scary!