Water Cooler Gunk

I noticed a clear, gelatinous substance hanging from the spigot of my water cooler today.
Any idea on what this could be?
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Eeewwww.....
To reply, please remove one letter from each side of "@" Spammers are VERMIN. Please kill them all.
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Pinhawk,
It may be lubricant used in the spigot.
Dave M.
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