That is a flower on your bamboo palm.

see if you can VERY GENTLY release it ... cut with scissors on the side away from the flower .. and then just walk away. if you made enough room.. the flower will grow itself out of the round form ...

if its flowering.. its usually a good sign the plant is rather happy .. [or dying.. lol ...but lets ignore that] .. so dont screw it up now by loving it too much ...

if you want some other general help.. how about a pic of the whole plant including the pot ... we could make sure its happy for you..or find out it isnt ...

ken

If it wasn't happy/healthy, it wouldn't be blooming.

Very informative, thank you. Ken's point concerns me because i have been underwatering it for a few weeks out of laziness and that it seems indestructible, and I was cutting away some dying leaves from that stalk when I noticed the flower. It is north-facing and I split it once about 7 years ago. I don't feed it, just water it (generously when in the mood). As you can see from the photo, it's about 11 feet tall which doesn't jive with descriptions of bamboo palms on google. Any other info is greatly appreciated folks! P.S. I will water better today because of the dying leaves, but did underwatering cause this?

"That statement is too vague to be useful. Please elaborate." - This was said to a comment that does not appear to be here anymore.

Your plant looks great, Stephen! That's an amazing amount of plant coming from that size of pot.