You are looking at the Sun's Evil Eye. Or the Death Star ready to shoot its planet-destructing laser. Or Jean Grey turning into the Phoenix. Actually, I really don't care about what the hell is going on here—it just looks amazing.
And the fact is that, even while this M4.7-class solar flare ended before any coronal mass ejection happened, it doesn't make it look less scary. According to NASA, "this image is shown in the 131 Angstrom wavelength, a wavelength that is typically colourised in teal and that provided the most detailed picture of this particular flare."
So. Pretty. [NASA Goddard Flickr]