A utensil that can be utilized to slice pizzas and dispense condiments is provided. The utensil includes a handle and a rotating circular blade for cutting, for example, a pizza into multiple slices. Additionally, the utensil includes one or more compartments, which can be used to hold and dispense various items such as condiments. The compartment(s) can be sealed with tape, aluminum, or a snap-fit cover to secure one or more items held within the compartment(s). The condiments may be provided directly in the compartments, or may be provided in a sealed package or envelope which is received in a respective compartment. Additionally, the compartment(s) can be fitted with a perforated covering to allow for gradual dispensing of one or more items held in the compartment. Furthermore, the circular blade of the utensil can be formed with a wavy edge, rather than a straight edge, to provide greater strength to the blade. The utensil can be formed entirely in plastic to allow the utensil to be more easily disposed and/or recycled.