Does anyone have an idea of what this is?

On my daily hikes I see this whatever it is on some trees. Friends on the trails don't know, we desperately want to find out.

The video gets in focus at about halfway through. Was trying to get close up for detail but need to pull back for greater clarity. At least this time I didn't get my finger in the shot.

It kinda looks like some kind of fungus or so we thought. But it moves like an insect. On a very still day, no wind, it just is there with hardly any movement but if you blow on it just the least bit it starts wiggling around.