Does anyone know what this white stuff is on my fig tree? Please help.
 

Could be mold. Did you wrap your fig for the winter?

Could also be callus tissue if the base was wrapped and kept moist.

I'm in South Texas so I figured I would not have to wrap any trees. It has been raining a lot this past week and very humid. It might be mold. I touched it and it smeared.

It starts rooting. However too much moisture and it can be turned to mould as seen. Use soft paint of tier of antifungus onto it.  Or try  let it be just clean it by Bordeaux mixture. Fresh air heals .

Thank you all for your help on this. This is such a great community.

this happened to one of my potted trees about 2 years ago. it should be soft enough for you to scrap it off. then i wrapped the area with tape like this that you can find at home depot.

http://www.forestry-suppliers.com/product_pages/Products.asp?mi=18041&itemnum=79311&redir=Y

keep it on for about 1 to 2 months until it warms up