This has got to be one of the weirdest things I have seen personally in a long time. 
We got back to the house from taking our dogs for a walk and grabbing a healthy doughnut and noticed just one branch had all this weird stuff on it. Upon further investigation it is just tree sap. 
It's squirting out of the tree like a big zit/pimple or something. Ha ha ha ha weird?!?!?