This is the nest of a praying mantis. There are hundreds of eggs inside the nest. The life cycle of an insect has evolved to ensure their survival. By laying hundreds of eggs in one batch, insects ensure at least some of their young survive. The life cycle of an insect is relatively short, which reduces the window of opportunity for predators to attack. The insects pass through an incomplete metamorphosis.
Praying mantis is the common name for any long, slender, winged insect of the order Mantodea, common in warm temperate and tropical regions throughout the world. Mantids are known for sitting back on their rear appendages and holding their stout front pair of appendages together in an attitude reminiscent of prayer. Actually, the green and brown insects are waiting for insects that constitute their food. Mantids are the only insects that can turn their heads from side to side. Their front legs are equipped with sharp spines that enable the insects to grasp and hold their prey.
To read more about the praying mantis, visit my earlier post here.