Help Needed Urgently. Egg Pouch Came Outside Of Rainbowfish?

Hey all,
Came home from work to see something I have never came across before on one of my banded rainbowfish.  It looks like the egg pouch has turned inside out and has partially left the body. Fish seems happy, feeding as normal and swimming with the others. Please see image attached.
 
I plan to quarantine the fish soon, after I get a few replies, but has anyone seen this before? Will the fish survive?
 
I checked all the fish yesterday night, so this is not a growth that has developed over time!
 
Many thanks for any help!
 

That's very strange... Sorry I've never seen anything like that before. 
 
 
I'd suggest being VERY careful when moving the fish to QT.... A net might cause even more problems.

It's some sort of prolapse.
 
I have heard of fish recovering; it usually involves that part of the gut necrotising and dropping off. There's not really anything you can do, apart from keeping the water very clean.
 
Separation is a good idea, as other fish will often pick on ones that are sick or injured.
 
Good luck with it.

Thanks for the replies.  The fish hasn't eaten today and is getting lathergic, ill keep my fingers crossed