1: Kill any animal and approach the body
2: Begin skinning the animal with any knife
3: As soon as you begin skinning, turn around so that you are facing away from the animal
4: Stay turned away until the skinning finishes, and it will drop the contents of the animal
5: Turn around, the animal will still be there, and you can repeat this process over and over until you have as much animal loot as you want (or until your knife gets ruined).