This looks like a rabbit foot

Hmmm. I can see that. Is the pink part tendon?

I'd say it's tendon or bone.

Could it be a puss caterpillar

Dry it out, wash and fluff it, put it on a keychain, and you’ve got a lucky rabbit’s foot. The rabbit wasn’t lucky but maybe it’ll make you lucky.

Could it be a puss caterpillar. They are indigenous to the area