Nah, that's definitely the blinker stalk. The end twists to turn the headlights on and off and the dial closer to the middle is for adjusting illumination brightness. Another comment said the button on the end is some propriety Honda thing. Plus it's clearly on the driver's side of the wheel (though tbf I'm assuming left-hand drive here)
The object, or the substance. The object appears to be a cars windshield wiper, I would say blinker, but it's on the right. As for the substance covering it, fucking no idea