Slime mold with yellow-ochre stalked sporangia in clumps. The height of the sporangia would have been about 4mm.
Spotted on the underside of damp decaying log.
My thanks to Clive Shirley for the correct ID. This was previously incorrectly labelled as Hemitrichia clavata, which according to Clive, are mostly upright. http://www.flickr.com/photos/24634827@N0... Family: Trichiaceae