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Turkeytails. Many along a wet barkless log. Each about 100mm across. Very papery and thin at margins. Underside is like pressed fibrous almost like felt or crushed velvet in appearance but slightly rubbery feel.
Wet eucalyptus forest on urban fringe.
"Trametes versicolor is a bracket fungus found in a variety of habitats and substrates. Commonly called Rainbow Fungus, Rainbow Bracket, or Turkey Tails, it has previously been known as Coriolus versicolor." http://australianfungi.blogspot.com.au/2... T.versicolor also contains Polysaccharide-K which is being used as an immune system booster in the treament of cancers... http://en.wikipedia.org/wiki/Polysacchar...