Often referred to as Psilocybin mushrooms, magic mushrooms are wild and cultivated fungi, used both recreationally and ritualistically, that contain psilocybin and/or psilocin, the psychoactive substances responsible for your trip.
Psilocybin mushroom is not the correct term though as there are many other hallucinogenic mushrooms that don’t contain either of these two chemicals, an example is the ‘fly agaric’ which instead contains the psychoactive compounds ibotenic acid and muscimol. When ingested, all of these compounds are broken down in the body to a form that causes hallucinations and experiences of the ‘trip’.