It is the chipped paint of a machine. The exposed metal is highly rusted and the rust is dripping down the surface.

The paint color, intensity of blisters, rust color, rust amount, range of dripping rust, amount of cracks etc. can be defined by the SBSAR file.

It is a melted candle with dripping wax being frozen along the body. The wax was stacking on each other creating an bumpy and irregular surface.