Needs more context. Where is it in the circuit? From what device is the circuit? What is the translation of the silkscreen? It might be a fusable resistor, or an actual fuse that used to be a resistor, but the designers didn't bother changing the silkscreen.
number 1, if it IS a fuse and its BLOWN for some reason and you replace or bypass it with a bigger fuse with out figuring out WHY it blew then your asking for trouble...
Its labeled R like a resistor but looks almost like a diode to me with the stripe...
can you remove it or test it? if you check various properties with a meter you should be able to figure it out.