Yes, Miracle Whip. Some folks use in place of mayonnaise for things like sandwiches and salads. The consistency is similar-ish to mayo, and it tends to taste more tart than store-bought mayo does (although mayo varies a great deal in this way).

It is nothing like chocolate sauce; it is definitely not a confection.

The first ingredient of Miracle Whip is water. But it does have eggs, and oil. And sugar. And other stuff.

It originated during the Great Depression; when people were broke as fuck and affording food was a challenge, Miracle Whip was a cheaper way to kinda-sorta get some of the same things done that mayonnaise would otherwise do.

(But things do change: These days, Miracle Whip tends to be more expensive than mayo.)