Quoted from Dayhuff:
Yes that is a wasp nest, since that picture was taken I have a even bigger one with the tree branch still attached to it and that's now hanging in the same spot. The Bally sign I bought off RGP many years ago, its supposed to have neon in it but I've got Xmas lights in it instead and it lights it nicely. I've got plenty of other signs not pictured too. Thanks for looking.
John P. Dayhuff
Battle Creek, MI.
Hey I've got a few wasp nests too! I'll have to take some pics. Maybe a new thread?