The black balls first surfaced on Coogee Beach on October 16.
There were soon more sightings at Bondi, Bronte, Tamarama, Maroubra, Little Bay, Malabar, Frenchmans and Congwong beaches.
The beaches were immediately closed while a clean-up effort took place and health authorities issued a public warning after initial testing by Randwick City Council concluded they may be tar balls, which are toxic.
However, researchers discovered that the balls were made up of lumps of human faeces, drugs and PFAS chemicals.
A plethora of tests revealed they are more similar to "fatbergs", commonly found in sewage systems.
White and grey debris was found on the beach on Tuesday morning. (Supplied: NSW EPA)
University of NSW chemistry professor Jon Beves, who analysed the debris, said they also contained cooking oils, diesel or fuel and recreational drugs, including THC and methamphetamine.
"They're consistent with human-generated waste, the sort of thing that you would have in a sewer," he said.
"I don't know if it's come from our local sewer system, or if it's been discharged from a boat, or if it's been washed from the sewers into the stormwater, or some other origin that we really don't know.
"It's definitely not from from an oil spill. It's human-generated waste or pollution that somehow made it into the water."
He said the balls were "extremely unpleasant" to work with and carted around the university to various departments for a range of different analysis.