This is a MQ5 gas sensor from www.icstation.com
It is highly sensitive to LPG, natural gas , town gas, butane and others. It has a small sensitivity to alcohol and smoke. The sensitivity can be adjusted with a trimpot on the back of the board. You could use this to make your own gas alarm for your home.
If you were wondering what the gray stuff is, it's polymer clay. It doesn't dry out in the air and it is very heat resistant. It is great for prototyping and holding components before soldering.