i once started my rd350 up and rode it only for a very short distance and switched off and took heads off to find EXACTLY the same as your pics. watery milky oily fluid everywhere as if i had a leaking head gasket on a water cooled motor.
cept mine was air cooled. so i just assume this is what happens when you start up and dont get engine to full operating temp before stripping down.
ethanol absorbs water so if its been stood in the tank a while you would get more of that fluid.
to be certain why not try tasting it?