Hmm, well I think it might be a red silk cotton tree flower, or Bombax ceiba to give the plant its proper name. The flower in your picture is past its best, but that's what it most closely resembles. The tree grows in sub tropical regions and is native to parts of Africa and Asia - there are no leaves because the flowers appear before the leaves do.

Link below shows a pic of the flower, separate from the tree - its in better nick than yours though, and you'll need to scroll down a fair way to find it...

http://www.greenzoo.net/ar010212.htm

I'd go for that id too bamboo. its lovely isn't it.

is this in your garden Waleed? Where are you from, just being nosey . welcome to GoY too :o)