it's water, fuel is a Hydro-Carbon which burns with the Oxygen from the air.
Carbon + Oxygen gives Carbon Dioxide
Hydrogen + Oxygen gives H2O (water). It is given off as a vapour which you cannot usually see, except when the exhaust system is cold, when it looks like a "mist". Even when the exhaust has wared up all the way through and you can no longer see it, the vapour condenses onto the exit of the tailpipes. If you rev the engine when parked, you'll see water on the ground behind the tailpipes.