It's the seed extract of a plant called amaranth or love-lies-bleeding. It's a really ancient plant grown by Aztecs, Incas and Mayas as their main food and they called it “the golden grain”. They believed it had supernatural powers. Nowadays it's a popular health food because the seeds have great nutritional benefits and are high in protein.
As for skincare there are two types of the seed extract:
1, The aqueous extract contains a high concentration of peptides and polysaccharides and helps to improve the combability and manageability of damaged hair.
2. The oily extract is more common and acts as other similar emollient plant oils. It's rich in non-saturated fatty acids (linoleic acid/omega-6 and oleic acid/omega-9) and squalene and is a great moisturizer and emollient for both skin and hair.