[The report appears to suggest the object is emergency chute size. But I have never heard chutes are be painted in airline livery colors....]
The emergancy slides which can be detached and used as a life raft are normally grey or yellow in colour. The purpose built lift raft that all over water ETOPS aircraft carry are illuminace yellow or orange to make them easier for SAR to spot, international regs would not allow them to be any other colour.
Could possibly be a slide that inflated on impact or by a survivor...