Well that died without a whole lot of help.
Based on Shimek's description I'm indeed inclined to believe its a member of the family Serpulidae, which would make it a "hard-tubed feather duster", but don't think it is either a Christmas tree worm or a Coco worm.
Somebody suggested Pomatestegus stellatus (the Star Horseshoe worm)
Here's an internet picture - seems sorta close;
Not much info on these . . . but I was able to find the following info;
Star feather worm
Pomatostegus stellatus
Abildgaard, 1789
Description:
This feather worm has a double fold of radioles that form a U-shaped crown. The opening of the tube has a simple lid (operculum) that consists of a series of discs. The tubes are hard, calcareous. The color of the crown is variable, most common are shades of red, orange, yellow or white. The crown can be almost uniformly colored, or banded.
Size: whole animal up to 10 cm, crowns up to 4 cm.
Habitat:
This feather worm occurs all over the reefs. Tubes usually encased in living coral.
Depth: ranges from 3 m down to 30 m.
Distribution:
Common all over the Caribbean.
Couple good pictures and some more info on this website;
Marine Species Identification Portal : Star feather worm - Pomatostegus stellatus