It IS a rust of some kind, though. At this stage of its existance, a fungicide MAY help, but amputation and destroying the cut-off branch is the best solution. And look around your close neighborhood for other trees or shrubs (apples, hawthorns, quince, etc.along with any Juniperus species) that may be infected.
Definitely apple-cedar rust, I believe what you are seeing are the fruiting bodies.
I had a Southern Red Cedar that became infected. In my experience, fungicide will not stop it. I would treat the tree and the rust would appear to go away for a season only to show up again the following year. Unfortunately, I had to put the tree down.
My understanding of how this rust operates is that it alternates hosts. One year it will show up on your cedar. The next year it will show up on a member of the apple family somewhere close to your location.
As jkl stated, search an destroy is the only way to get rid of this pest.
I suspect the "cedar apple rust" title has been given to more than 1 fungus.
The nursery inspector here called the things in bubbafrga's picture "cedar apple rust". They were actually growing on a Scots Pine, and there are no apple trees nearby. He said the other required host was a member of the aster family.
If your tree is valuable, you might want to consider an investment in ZeroTol.
From research Ive done it appears to be some kind of Cedar Apple Rust. I think it is involved in Quince , we got some flowering Quince last year.
Its over the whole tree but it started falling off today. Its only on the bark not on foliage. Squirels and Birds were eating the orange jelly things today.
I could part with it but its in bad place to get cut down.
I have other cedars and larger on at my driveway that is valuable to me. But none of them has any of this on it.
What scares me is it getting to my Bonsai.
So cut this cedar down and cut the Quince down, and will that take care of it? From what I have read about the Cedar Apple rust it doen't real hurt the Cedar only makes it look strange for week in the spring. Is this correct or am I miss reading?