Hanger steak is from the diaphragm of the cow. It's also called the "butcher's cut," because savvy cleaver-wielders keep it for themselves, which tells you how delicious it is. And it's hard to find, but if you're fortunate enough to run into some, you'll discover it's quite a bit cheaper than premium cuts like ribeye or strip, though it actually packs more intense beefy, mineral flavor and richness. Its name comes from the fact that it "hangs" from the cow's diaphragm. The cut has a very coarse grain, and should be cooked no more than medium to keep it juicy and tender, then sliced thinly against the grain.