While it's an excellent sanitizer, regardless if it's denatured ethyl or isopropyl alcohol, it's very toxic to drink. However, when applied topically (i.e. on skin before a shot, or as an equipment sanitizer...), it evaporates. Unfortunately, what is used to denature it does leave behind some undesirable residue in very minute amounts.
I use it to sanitize the mouth of a flask for yeast starters, cleaning surfaces where I do yeast work, and such, not with with anything that contacts my beer.