might be unburnt engine oil dripping from the exhaust. not uncommon, especially if you been trolling alot. no cause for alarm. decarb your motor soon as you get a chance.
or, it might be gear oil in which case you might need new seals for your lower unit. you can check for this by looking for water in the gear oil.
thanks ill check on decarbing gear oil looked good no water motor also seems to get hot i can only hold hand on baffle plate 3 sec after running is that normal