This is titled Up-Tight #1 by Jaques Overhoff. Mr. Overhoff has been in this blog before with a piece on SF City College campus. Up-Tight #1 is painted concrete. The name was to symbolize the stabilizing effects of the tension cables. That made absolutely no sense to me until I found an earlier photo of the piece.
Obviously some restoration is in order for this piece that was installed in 1977.