That looks like a root to me. Check the Orchid Forum (not the Gallery) for a FAQ on this topic, with pictures.

A root, no doubt.

Roots are good too! Looks like you have a happy, healthy plant. But it probably won't spike until this coming Fall. Buy yourself a dendrobium or two. Most of them are summer bloomers and have long bloom periods. Many of the newer phal type dends have blooms as large as the medium size phals. They're readily available and come in many color forms. They are heat/light lovers and will love it outdoors. Happy growing.

Sheila :)