I’ve sniffed formic acid, and it doesn’t smell like vinegar – it’s reminiscent of stink bugs / cilantro, but has a stronger, musky undertone. I never got around to tasting it, but I’d be sure it’s just awful tasting stuff.
The ants who have evolved away their stingers (ants are cousins to wasps) will simultaneously bite and spray formic acid, resulting in painful bites (some genera of ants kept their stingers).