Candy cane sponge, or more often called Spider Sponge (Trikentrion flabelliforme) is a red sponge with white zoanthid polyps in bands around it. There is not much information readily available on this sponge. From what I read, the white color indicates that it is a non-photosynthetic coral. You might recall seeing them at last year’s Frags at the Firehouse. These come from Australia from turbid waters. Like other sponges, it can release toxins. It requires micro plankton, so it doesn't tend to do well in most tanks..
Here is an example.
A close up of the polyps.
But this is not one.
https://www.bing.com/videos/search?q=Spider+Sponge+Coral&&view=detail&mid=1354A9FE36FB03FED32C1354A9FE36FB03FED32C&FORM=VRDGAR
https://www.bing.com/videos/search?q=Spider+Sponge+Coral&&view=detail&mid=599F48D44E0D0AADD41F599F48D44E0D0AADD41F&rvsmid=0585F93E4F6D29A4FB3C0585F93E4F6D29A4FB3C&FORM=VDQVAP
https://www.bing.com/videos/search?q=Spider+Sponge+Coral&&view=detail&mid=599F48D44E0D0AADD41F599F48D44E0D0AADD41F&rvsmid=3B1813E6AF283889EABD3B1813E6AF283889EABD&FORM=VDQVAP
Here is an example.
A close up of the polyps.
But this is not one.
https://www.bing.com/videos/search?q=Spider+Sponge+Coral&&view=detail&mid=1354A9FE36FB03FED32C1354A9FE36FB03FED32C&FORM=VRDGAR
https://www.bing.com/videos/search?q=Spider+Sponge+Coral&&view=detail&mid=599F48D44E0D0AADD41F599F48D44E0D0AADD41F&rvsmid=0585F93E4F6D29A4FB3C0585F93E4F6D29A4FB3C&FORM=VDQVAP
https://www.bing.com/videos/search?q=Spider+Sponge+Coral&&view=detail&mid=599F48D44E0D0AADD41F599F48D44E0D0AADD41F&rvsmid=3B1813E6AF283889EABD3B1813E6AF283889EABD&FORM=VDQVAP