A spokeswoman for Queensland Museum said marine experts had taken a look at photos of the blob and said it was difficult to tell without examining it however they said they felt it was a sea slug.
"It's hard to pinpoint without examining it and knowing the size," she said.
"Their nearest guesses, based on colour and the side 'frills' is that it might be a Spanish Dancer sea slug."
Earlier: A red, 'mysterious blob' has washed up on Mudjimba Beach this morning, confusing passers by.
Twitter user Debbie Higgs @Debz73 contacted The Daily this morning after she noticed the unusual find on her morning walk.
The Mt Coolum woman said she was taking some photos at Mudjimba Beach when she stumbled across the find.
"It looks like a slug, it's got ribbing," she said.
"I've never seen anything like it."
Hey @bar_rat @919SeaFM @the_daily check this out from Mudjimba sunshinecoast beach this morning, what is it? pic.twitter.com/3kQQPE0bhWMs Higgs said she saw the mystery creature, which has since died, wash up onto the beach.
- Debbie โ (@Debz73) August 24, 2014
"I gave it a poke and it wriggled a bit. It's not a turtle as it hasn't got any legs."
"It's bright red."
She said she was determined to find out what it was so she grabbed a tea towel from her car and used it to take it home with her.
Comment: Interestingly, on the very same day and about 15 kilometres away, this occurred: Australian students discover rare fish dead on beach
Also, back in June from the same general area: Rare purple jellyfish found on Ballina beach, Australia