On the one hand, that should screw my vest of resistance and steadfast boots, unless magic items have magic protection, and definitely eats the handle of my maul.
On on the other hand, all greed will be left with is his chain shirt and his gauntlet, and he has a 10 cha coupled with a lack of necessary decency or shame. So, that's funny.
This is actually a great prank to pull on a party, especially if the ooze dissolves when killed or can teleport away. I will have to remember this use...