Sorry if this winds up being off-topic.
Never seen this before. It’s a pipe that goes through the basement foundation wall and down through the slab floor. There’s also a leg coming out the side but it’s capped. The whole thing minus a section of braided steel has been wrapped with insulation and tape. Looks old.
There was a foot of snow on the ground outside so I couldn’t see what was going on out there.
Any ideas? Thanks in advance.