I’m assuming this was an Osprey nest that got blown apart by some of the fierce thunderstorm winds we’ve had recently. Ospreys are fish eaters, this spot is near the Teton River and they seem to prefer nesting in telephone poles around here.
The red material is somewhat disturbing. Was it from an abandoned construction site? It’s tough being a raptor, you can’t go online and check the internet for potentially dangerous nest building materials. Here’s a Map to that location.
Looks like the wind did a lot of damage to the nest. Hopefully there were not babies in the nest.