This is dacryocystitis – inflammation (and in all probability infection) or the nasolacrimal duct. The rabbit has a narrow duct with two points at which the duct bends and narrows. This, together with the likelihood of maxilary bone involvement in nutritional bone disease and dental abnormalities, leads to this build up a pus, shown well here as it leaves the single nasolacrimal punctum. Regular flushing and probably systemic antibiotic therapy too are steps to resolutin of the problem, but the road to a cure, like the nasolacrimal duct iteslf, is long and tortuous!!