C
Cosmic_surfer
Sorry my experience with fish disease is pretty limited but I'll give it a guess. To me it looks like your FH has a prolapsed anus. It could be caused by over eating or eating food with too much protein or Hexamita or Camallanus. What your seeing is the intestine of the fish inverted so they protrude out of the fishes anus. Any dropping you see is likely white and is actually the intestinal wall shedding.
In my experience it seems to happen more frequently in FH's and other Cichlid hybrids then Naturally occurring species. Whether this is because of them being accidentally genetically prone to it or some other reason I don't know. I can only speak from my limited experience/ observations and it was more often Hybrids that I had that either came with or shortly after having them seemed to develop such afflictions. I've actually never had a naturally occurring species I've kept have such a issue. Hence why I feel it's more prone to happen to hybrids.
It can be treated as far as I know with or at least I've had success using Epsom Salts. R.D. has a great and informative sticky about using Epsom Salts I added a link to it for your convenience.
https://www.monsterfishkeepers.com/forums/threads/treating-hexamita-aka-spironucleus.339362/.Other treatments I've no personal experience with but have heard used are fenbendazole, levamisole, metronidazole and praziquantel.
Of course making sure your water parameters are optimal during this time is also of extreme importance. In the future you may want to change your feeding habits. Camallanus is a naturally occurring worm in the intestines of fish but get out of hand when outside factors cause undue stress or constipation, etc. I personally don't feed everyday and give me fish a varied diet as well as pre-soak pellets to stop them from expanding later after the fish has consumed them.