My Neighbor Found This In Her Yard, What Is It?!

My neighbor was out weeding her garden today when she sent me this picture. What is this fluffy, cottony growth that she found attached to a leaf in her backyard?

It's super pretty and reminds me of the little world in "Horton Hears a Who".  We came up with the theory that a small, friendly alien may hatch out of it and come save humans from themselves. Our husbands chimed in that it is probably a cocoon. they have no imagination.

Have you ever seen such a thing? Do you know what it is? Comment on our Fan Page.