Not green and not cyano but actually known as cotton candy algae. Algae under this heading usually appear as a light pink or dark fuzz. Closer examination will show it is made up of many branchlets. The plants are very small, lose form out of the water and sway in the current. Each plant forms from a single holdfast. It's a Callithamnion species and the sporophyte stage of Asparagopsis taxiformis. The one pictured below is quite good looking, they usually don't have such an aesthetic appeal, and are a dull red or reddish brown.
To remove if desired, easy if it hasn't taken hold in places your fingers won't fit. Scrape your thumb on the surface it is attached to, while holding the algae like a pencil as you remove it. This helps you get the small holdfast. This algae isn't particularly common, but has the ability to grow rapidly from fragments.
Some cleaner crew that will help eradicate this are : urchins, large turbo snails, emerald crabs and most small hermit crabs such as blue or red legged hermits.
