What is this slimy, milky white, almost "snot-like" stuff on my bog wood?

I recently purchased a huge peice of bog wood to put inside my 125 gl. Oscar tank. It's been in there for 3 days and just now I noticed this weird white slime all over it. Prior to inserting the wood into the tank, I soaked it in the bath tub in plain hot water; no soaps nor chemicals. I changed the water several times until it was clear and the wood was free of dust and other debris so I don't know what could be causing this. Above all, is it harmful and how do I remedy this situation? Thanks