Do you mean something like this linked picture?
http://www.reefkeeping.com/issues/20...s/image009.jpg
This is caused by tube snails called vermetid snails. They are common in and on live rocks. The webbing you are discribing is there modified antenae which capure food particles in the water and are pulled back to the snail so it can feed.
Here is a good article from Reef Keeping Magazine about them:
http://www.reefkeeping.com/issues/2005-01/rs/index.php