Hey guys, I know this is real novice but can someone give me a quick rundown of what to look at when inspecting your exhaust. I'm looking at this civic and there's liquid (water?) coming out of the tip. It's not dark (which I guess is good?) but I'm not sure. Please advise - thanx

Moisture coming from a tailpipe is common on almost any car.

as long as its only small amounts it'll be fine.

It's one of the by-producs of combustion :) CO2, NO2, and water.