Horntail wasps are in the family Siricidae and they are wood boring wasps. Thankfully, this menacing looking wasp does not sting people or pets. The long thing at the end of the abdomen is not a stinger; it is an ovipositor which females use to drill holes into dying trees, where they deposit over 200 eggs in the bark of trees.
In 3-4 weeks the eggs will hatch and the larvae will live inside the tree for up to two years before emerging. The adults average an approximate length of 1.6" to 2" long with the females being larger than males. There are several dying trees behind this fence and I wondered if this is a newly emerged horntail wasp or one looking for a place to lay her eggs. An unanswered question forever.
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Information Source: ipm.ucanr.edu, orkin.com, everythingabout.net
Image Source: All photos are my own.