When choosing a banana blossom, select a firm one with tightly packed petals and they should be a purple-red. There should be no signs of decay. If not using, wrap it in a cling film or plastic wrap to keep the petals closed completely and store it in the refrigerator.
The tough reddish leaves on the exterior are known as bracts. These can be used as serving plates or otherwise discarded. Beneath these ‘bracts’ leaves a row of delicate yellow-tipped florets that can be removed and immediately soaked in acidic water to avoid discoloration and bitterness.
The colorful florets are eventually ‘soon to be bananas’ and are part of a tedious cleaning process: pluck the matchstick-shaped pistil (tough and not pleasant to consume) and the scale-like outermost petal (aka calyx). You have to do this for every floret. Discard them and soak cleaned florets in acidic water immediately for several hours or overnight to prevent browning and remove the bitterness. Rinse in cold water, drain and squeeze out excess water.
Regarding the taste, these florets (if not soaked in acidic or salted water) will leave a bitterness on your tongue if eaten raw (or if you are just curious). Once they are soaked & rinsed for awhile and cooked, they won’t be as quite bitter, yet tender. They are commonly used in Southern Indian cuisine such as fritters, stir-fries or fried dishes. I haven’t used the florets yet.