That’s a wasps’ nest, dead. Our guess is they built it last year, and hadn’t yet recolonized it this year. The hole in it was unavoidable — the nest had been built around numerous vines, and we couldn’t get behind it to cut the last of them free.
My personal opinion is that the honeysuckle needs to go. If we’re going to have to prune something back to twigs every year, I want it to be something that feeds me, like grapes. But since I’m not the pruner my opinion counts for little.
(Graaaaapes. Rombaugh graaaaaapes)
EDIT: Sandra did some googling, and that is not a wasp’s nest. That’s a hornet’s nest, and they don’t re-use nests. Well… cool. It’s safe for Show’n’Tell next week at school, right?