It wasn't a sap bubble. With the help of a long rusty screw driver, I have essentially neutered my tree. I have a short video processing to upload the procedure for your entertainment. It was filled with a thick pink pudding-like substance. I believe it was some type of fungus.
Lol, no. I looked up that fungus, but this was less of a mushroom type and more balloon like. It was soft to the touch, almost like a really thick water balloon.
I've never posted a video through photobucket, so hopefully this works.
I have successfully neutered my tree using a long rusty screwdriver. Now the images may make you cringe, but I thought, for educational purposes, I'd share the procedure with you.
Looks a lot like a wood ear. (uhh.. used in oriental cooking and said to increase libido! Well, maybe not, just threw in that last part.) Had you left it alone, it would have turned hard!