Alrighty, for some reason I decided to mess around with some old cheap pickups I had laying around. I wanted to have a look at its "guts", because I am a curious child. I unscrewed some of the magnetic screws, and a greenish/bluish stuff was surrounding the inside of where the screws were. Just wondering if that stuff should be there.

its probably something to hold the coils.
Quote by Scowmoo

You deserved this, Matt.
Sorry, I don't have a camera so no pics.

It sort of has a texture like soap. Not liquid soap, but like a bar of soap.
ahh, its probably wax, or epoxy, holding the coils in place to stop microphonic feedback.
Quote by Scowmoo

You deserved this, Matt.