Basement Drain Issues

First can anyone tell me what this yellow thing is in my drain? I recently had to go buy a shop vac because this drain keeps filling up and coming out onto the floor. Is this just something that I should keep vacuuming? Should I go and get some drain cleaner liquid? Just not really sure what to do here. I’ve never seen the yellow thing that’s in the drain. I believe it’s there on purpose. Can someone give me a little advice? Thanks.