I'm thinking either one of Four things, one is that there are two types of gear oil mixing(likely), I have seen weird colors when this happened on my motors. Another option is that there is a small amount of water getting in the gearcase (possible). Another is that something got into the lower unit and got ground up(not likely). Another(least likely) other option is some type of metal shaving or some failing component ground up in the lower unit.
It should not be fuel because if fuel was somehow getting into the unit then lots of water would get into their and you would notice it. If you want to make sure the unit is okay then run the motor for a little in a bucket on or on the water, and then check it again and if it looks good or just has a little stuff mixed in like the picture then you are probably fine and just check again after a couple weeks of use. if you see a ton of milky color after running it then you need new seals, and if the unit is clunky in gear or seems really weird then maybe some component failed.