Is this a macro algae? If so, is it good or bad?

[mrcoffee2]

This has been growing in my tank the past month. Is it good or bad? What should I do about it?

[video=youtube;0I6tgZWExpo]https://www.youtube.com/watch?v=0I6tgZWExpo&feature=youtu.be[/video]

 

[Reefing Madness]

Yea thats a macro. Kinda looks like Dragons Breath

 

[mrcoffee2]

It grows out and then breaks off. My LPS seem to eat it when it becomes free floating.