Please identify and advise
Sorry, I answered a different question than the one you asked!
It is a hornet nest. If possible leave them as they are housing several hundred hornet. They will not survive the cold of winter and can be removed easier during the colder season. Here is more information on these insects and if needed, how to remove them: https://kentuckypestnews.wordpress.com/2018/07/17/paper-wasps-hornets-and-yellowjackets/
What ever you decide, be careful.