Subcutaneous fat necrosis (SFN) of the newborn is a variant of lobular panniculitis characterized by focal areas of fat necrosis and a granulomatous infiltrate composed of lymphocytes, histiocytes and multinucleated giant cells. Lipocytes and histiocytes contain needle-shaped clefts in a radial arrangement. Needle-shaped clefts may also be seen within the cytoplasm of multinucleated giant cells.1–3 We present an unusual example of SFN showing multinucleated giant cells laced with eosinophilic granules. These eosinophilic granules are believed to be released from surrounding degranulating eosinophils.