People needed a place to tie their bad fortunes somewhere so they chose this tree apparently. I'm not sure if this is what the tree is for, but there was no where else to tie the bad fortunes to.
I know it's tempting to hit the bell since it is so well set up and just waiting for you.....but don't. As a sign of respect for the temple and to the Buddhist monks here.
For example the dragon head on the top of the bell.
I just love the contrast of the blue and red. I know it's not supposed to be blue, but that doesn't mean I can't like it.