What is this pink waxy stuff leaking near front right axle?

This weekend, I changed the serpentine belt on my 2004 9-3 Arc, and I saw this pink waxy stuff near the passenger side axle.

At first I thought it might be transmission fluid, but the transmission is on the driver's side, isn't it? Plus, the consistency was waxy, not oily. I couldn't identify the source of the leak.

Anyone know what this is, and how to fix it?

Also, what is that nipple thing on the power steering pump, circled in the picture?

Thanks