I like the colors and composition a lot. You could have entered this in the Textures challenge, but certainly is beauty in the everyday. And Silly Brad...he should know that the white stuff is foam from the surf!
The contrast from the reddish on the chain to the rock and transition to the snow is wonderful. I see the beauty in such a simple object. The layout of the shot is good. IMHO it probably would have been good to get all of the right side of the rock in the frame. There could be a thousand reasons why you didn't so I certainly am not casting stones, but the crop just hits me in a strange place. Still a very nice shot and how you placed the chain is just excellent! Very nice job.
Unlike many entries, you seem to have read the description and taken onboard the wabi-sabi thing. I like that your subject is an everyday functional item - the beauty we see in the textures and colours that have come from weathering were not planned for when the object was designed/ created. Composition good too.