We report photometric observations of Kuiper belt object 2003 SQ 317 obtained between 2011 August 21 and 2011 November 1 at the 3.58 m New Technology Telescope, La Silla. We obtained a rotational lightcurve for 2003 SQ 317 with a large peak-to-peak photometric range, ∆m = 0.85 ± 0.05 mag, and a periodicity, P = 7.210 ± 0.001 hr. We also measure a nearly neutral broadband colour B − R = 1.05 ± 0.18 mag and a phase function with slope β = 0.95 ± 0.41 mag/ • . The large lightcurve range implies an extremely elongated shape for 2003 SQ 317 , possibly as a single elongated object but most simply explained as a compact binary. If modelled as a compact binary near hydrostatic equilibrium, the bulk density of 2003 SQ 317 is near 2670 kg m −3 . If 2003 SQ 317 is instead a single, elongated object, then its equilibrium density is about 860 kg m −3 . These density estimates become uncertain at the 30% level if we relax the hydrostatic assumption and account for solid, "rubble pile"-type configurations. 2003 SQ 317 has been associated with the Haumea family based on its orbital parameters and nearinfrared colour; we discuss our findings in this context. If confirmed as a close binary, 2003 SQ 317 will be the second object of its kind identified in the Kuiper belt.