It's a Bald Faced Hornet's nest and I think it is absolutely beautiful! Although quite dangerous. Harry and I discovered it hanging in the maple tree in front of our house and at first I thought it was a paper wasp nest. But when the pest control guy came out to remove it, he told us it was a Bald Faced Hornet's nest and it was a good thing we called him. Apparently they are very aggressive and up to 700 hornets can live in one nest. Although I *hated* to have it exterminated, we had no choice. It was too close to our home. But I thought it was too pretty not to photograph and share. It was also huge! I learned the nests are made by the hornets chewing up strips of wood and mixing it with sticky saliva.
When Harry took it down a couple of days later, we really got a close look at it and saw just how big and beautiful it really was.
Nothing like nature to produce something so pretty. At least I think so.