This stuff is draining from my tooth. what could it be?

Pus: If something is draining from your tooth, it is probably pus that is being created by an infection. See a dentist asap as the tooth will need a root canal and crown or an extraction in order to resolve the problem.

Infected: Pus would be my first guess if it is yellow, blood if it is red.

Infection: Most definitely sounds like an infeciton. When there is exudate coming from a tooth, that's the tooth's way of saying 'i have an infection'. You need to get to your dentist asap so they can properly treat the tooth. It may likely require a nerve treatment and possbily a crown or cap afterwards. The important thing is to get rid of the infection. Keep smiling !