What kind of insect nest? It is about 1 foot high on the outside wall with bright orange bubbles?

Question

It is attached to the air conditioning out pipes. There is some black stuff all around it.

Answer 1

Sounds like a fungus not an insect nest.

http://www2.una.edu/pdavis/kingdom_fungi.htm

Answer 2

Sounds like a wasp nest or bee hive...