Is this aiptasia?

[ChrisKrillz]

Hey all, I recently bought a lovely little green candy cane coral and placed it on the sandbed in my tank. I put it in my tank on Monday and I have been noticing white colored tendrils poking out of the polyp/opening. Below is a picture of the coral.



Is this aiptasia or some form of algae? And if so, should I be worried/do something about it?