I'm not too sure what I'm supposed to be looking at. If you mean that material in the threaded hole, it would help to know wha it is, and how it got there.
There are tools that can "rethread" holes. Auto mechanics use them all the time. It creates a lot for loose materal in the form of very fine metal shavings, bits, and shards, none of which does a camera any good. One would have to work updside down on it.
" WHAT SHOULD I DO TO TAKE THIS OUT, ..."
Take it to a Canon Service Center. The tripod socket is an insert. It may not be possible to replace just the insert.
What is it that got stuck? and how does it move around? It's too hard to tell from the photo. It looks like black plastic?
They have these tools to remove broken off screws and the like...typically they are called screw extractors. You can buy them off any hardware stores like Home Depot.
Care needs to be taken not to damage the tripod thread but this shouldn't be too hard to remove with the right tool.
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