HottieZ is an item designed to relieve stress and boredom. This magazine is 'consumed' once it's read, and therefore is removed from the player's inventory. HottieZ can also be used as a fuel for particular heat sources, and lasts for 15 minutes if done so.
Judging by name and the art depicted on the item we can assume that HottieZ is a pornographic magazine (ex. playboy).
From items_literature.txt (Project Zomboid directory/media/scripts/)
DisplayCategory = Literature,
Weight = 0.2,
Type = Literature,
DisplayName = HottieZ,
StressChange = -50,
Icon = MagazineNudie1,
BoredomChange = -40,
StaticModel = Magazine,
WorldStaticModel = MagazineOpenGround,