Do I look afraid?

Lets say you were doing a remodel of your bathroom and you had to rewire some circuts. So you wire up a whole new pathway for the lights and outlets and go to the basement crawl space to run the new 'home run' circut. Now while you're down there you see this thing hanging from what is likely a live electrical circut. Would you be concerned?

I thought so. So some electrician guy comes over to give you a little advice on your project and you show him this picture to see what he makes of it. Instead of saying something like "Oh that's a flugeramen" he says "I wonder what that is? How long has that thing been there?"

A little help from any of the thousands of people who read this blog on a daily basis would sure be great.