Wow, that's a beautiful picture. I never heard of such a thing.
It reminds me of what I see along rock ledges/walls along the highway, whenever I go on long road trips in winter. They look like giant icicle-drips. Of course they don't look like this picture, but I always wonder about them--how they're formed (presumably by water seeping through the rock, duh), and what they're called, etc.
Turkish for "cottoncastle," the name refers to a series of mineral-rich hot springs staggered down a large cliffside. The effect is similar to a huge frozen waterfall. The ancient city of Hierapolis was built atop the mountain by the Phrygian Greeks, and later became part of the Roman Empire. The place has been a popular destination for millennia due to the water's supposed healing properties. See a picture.