Is it an egg?? Is it a worm?? Yes. The other thing it is is really fishy and dirty. We can't figure out if the worm is eating the egg or if the egg is hatching a worm. But the translucent egg and movement of the worm make the fish not care. You won't either. Check out our Fried Egg as well, the Fried Egg and Worms' big brother.