Looks like an orange sponge to me. Here is another pic:
You can find several colored sponges on your rock; this one seems pretty hardy and will most likely survive in the long term. Most sponges die when exposed to air, so don't leave your rock exposed!
These are filter feeders which require a LOT of nutrients to survive in a captive reef. You can try to keep them alive with liquid foods.
That's most likely a sponge, as everyone else has already noted
I did want to mention that I had a (visually) identical pink sponge grow on a piece of my live rock. It most likely came in with my initial live rock used to build the reef structure and as such was quite hardy to have survived the whole curing/shipping/hell month process. It actually survived an event where I accidentally poisoned my tank, killing off many other inverts. So, my guess is that it'll thrive in your tank if you're lucky.
If you want to "feed" it, I'd try something like Phyto-feast live or Marine Snow. Just a guess, though.
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