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That would be an effect. I'm not completely sure how you would go about editing its shape since it's not like a normal object. I know it's possible to make texture overrides for effects, but they would be global. If you were able to edit the effect to change its dimensions, it would globally affect any other object that uses that effect.
Off hand, I don't see a Material Definition file for it, but you might could create a mesh group of the appropriate dimensions and replicate the dripping water with
texture animation
I don't mind if you call me "MSD" or something for short.
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