Hey there, Alice. Welcome to the boards.
This isn't something we're likely to be able to help you identify clearly just because it sounds like something you really need someone to be able to look at, ideally a healthcare provider.
Bleeding with use of a sex toy -- bleeding from sex most of the time, period, tbh -- isn't actually something that should be happening, and if it did, it's probably from some kind of injury. Maybe you had a hymen/corona formation, like a septate hymen, which resulted in tearing that tissue, and that's what's now hanging out. That's something that's pretty likely if you also didn't have a lot of pain, since that tissue doesn't itself have nerve endings, so it doesn't usually hurt if it tears. If it's that, there's nothing to do but just leave that tissue be and let it erode away further on its own, which it likely will. Alternately, you can ask a healthcare provider to look at it, and, if that's what it is, ask them to excise it, which they probably will be open to and which would likely be totally painless.
However, I can't say for sure it's that, so in the event anything DOES hurt, or you develop any other kinds of issues, or in the event you want a for-sure answer for this, you'll need to see a healthcare provider.
In the interim and future, you know to be sure to use lubricant with anything you insert into the vaginal opening, and NOT to press on if anything DOES hurt (or even just feels uncomfortable instead of good), correct?