I have had this in my tank, and it is terrible to get rid of. The reason is that if a strand is left in the tank it will mutliply and strand out. It usually starts off slowly and before you realise it your tank is infested with the blasted stuff.
The cure is radical. You need to strip down the tank and scrub everything with a special disinfectant designed for aquariums, and then pour boiling water over everything to steralise it, the return the items back to the tank. Putting algaecide in the tank merely kills off your other "greens", hair algae is quite resistant to algaecide. There are two main reasons you get in your tank. One is you've brought it in from the outside.ie. buying plants and some has sneaked in that way and the other is you've encouraged it. Encouraging algae is easy, have enough fish waste, uneaten food, and plant fertilisers in the tank water, and forget to do regular water changes. This leads to high Nitrates and the phosphates levels rise and plants can't take in anymore neutrients and so minute plant life starts to form and with the presents of light be it artificial or natural this "slime" starts to form into strands as it starts to grow and flourish. Hair algae.