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On the end of a woody stem.
this is a hickory (Carya sp.), you should be able to identify the species with the mature leaves, bark and nuts
I'll post more pics, but it's such an interesting bud! And there were a lot of them. It's funny how I've never seen them before.
can you provide photos of this once it leafs out? with little to go on, I am hard pressed to give you a great id. Do you have shag bark hickory trees in the area this picture was taken. Tree has shaggy back, is normally very tall with a thin shaggy trunk. I am going out on a limb and strictly making the best educated guess I can with little information. Post a photo of the leafs of this plant and I or someone will make a positive id.