Definitely the grease gland, and I dont think that looks too bad really, but you can clean it as advised above- we clean Piggle's (which gets much crustier than that, and spreads yellow bum grease all round her legs!) by massaging in a little olive oil then giving her a quick bum bath with gorgeous guineas shampoo, we do this about once a month if needed to stop it getting sore. If it does get sore looking or if you are worried its worth a vet check, we've taken Piggle to the vet twice about hers, but both vets reassured us that she just has a greasy bum and she could probably clean it herself if she wanted to, but she probably likes to smell nice and musky!