Strykaas,
That is the denecrepe (special crepe paper) streamer rolled up and held on with a rubber band. This has become standard operating procedure. When "Start Your Engines" is called the pilot's judge or spotter will take streamer off the tail and toss it in the air during launch.
In short, it keeps the streamer from getting tangled up during launch...
This picture shows my lovely spotter and fiancé tossing the streamer as I toss the plane.
A.J. Seaholm
RCCA WEBmaster
www.rccombat.com