I noticed some red solid/gummy substance underneath my vehicle on the passenger side today. It is on the colored portion of the exterior that wraps underneath the vehicle. See the first photo below. Looking around, I also noticed some of what appears to be the same substance on the (sway bar?) of my vehicle, also on the passenger side (second photo below, near the middle of the photo). I have a 2013 Dodge Grand Caravan.
What might this be? Is this transmission fluid gone horribly bad and leaking? Or is it some more benign grease leaking out from somewhere?