This is a juvenile planthopper. It's about 5 millimeters long. Many planthoppers secrete a waxy substance which forms into long strands. These strands, which can break off, may distract a predator while the insect escapes to safety.
This little critter is one of 60 species that Dr. Trond Larsen of Conservation International discovered documented during an expedition to a rainforest in southeastern Suriname. You can see more photos and a video from the expedition here.
Update 10/7/13 - Molly Berger, editor of Conservation International's Human Nature blog pointed out that the juvenile planthopper pictured is not a new species. It's one of the hundreds of other species documented on this expedition. Thanks Molly!