Changes into

When its hit points run out it becomes Hanging Log 2.

Harvest drops

Taken apart with a harvesting tool (axe, pickaxe, shovel), before perks and tool bonuses.

Drops when destroyed

Where to find (3 POIs)

The Rejekts Gang Outpost (tier 3), Hog Foot Village (tier 1), Bandit's Revenge.

Points of interest built with this block (any of its variants), the highest tiers first, from the game's prefab files.