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It is a peanut worm. A rock boring worm that extends itself to feed on detrius. It is harmless. I have one in my LR as well. I assume you are refering to the cream coloured arm.
i have about 20-30 of them in my tank website said they will disapear after sometime cuz water quality won't get this thing live long in home aquarium but for some reason mines just keep on growing , now almost every piece of lr in my tank can find 1-2 of them