Wolf's milk slime mould

Description:

The globose to subglobose or compressed fruitbodies of Lycogala epidendrum are at first pinkish-gray to bright cinnabar-red when young. At this stage the flesh is a pinkish, paste-like substance (like toothpaste?). With maturity the fruit body becomes yellow-brown or olive- brown and the spore mass becomes powdery and pinkish- gray to ochre in mass.

Habitat:

Found in a wetland .

Notes:

Not a fungus if you can believe that one.