What in the blue h***?

[captain hook]

I've got this weird looking thing that has been driving me crazy. I was hoping someone could help me ID it. Sorry I don't have a digital camera to post a pic.
It basically looks like a big silver/green ball about 1 - 1.5 inches in diameter. It used to be attached to a rock, but got knocked off last week and has been floating along the bottom ever since. It feels pretty firm and has the appearance of glass while inside the tank. I took it out tonight thinking that it may be bubble algae and tossed it into the sink only to see it bounce around like a Superball. I was absolutely amazed. Upon closer inspection it was slightly rubbery feeling.
Is this bubble algae or something else? The bubble algae I've seen has always been very green. This is mostly silver in color was a slight green hue. I'd also like to know if I should leave it in there or take it out.
Thanks to all that respond.

 

[kris walker]

Yup, bubble algae. Most think it is a good idea to take it out. When it is attached, you can gently twist it off. Try not to pop it in the tank, as people have reported that this leads to massive bubble algae blooms. They can look green, black, or silvery in color.
kris

 

[reefgirl]

It's Valonia, a nuisance algae. Take it out as if it pops, it will release spores alllllllll over & you'll end up with Valonia everywhere. The really green "bubble" algae you're probably referring to is a type of Caulerpa & is generally not a problem.
HTH
RG