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Great descriptions on this species.
As with most polypores, final identification is aided by a description (shape, size and colour) of the gills/pores on the underside of the fungus. A cross section of the fungus is also helpful. The green pictured here is algae.
The specific name caperatus means wrinkled or creased. Before DNA studies on mushrooms, names were based on morphological features- the ones easily seen by the human eye. The use of better microscope later caused some changes in taxonomy. But the biggest changes have come about because of DNA analysis. Through this molecular study, mushrooms morphologically similar were found to share very little common genetic background. Conversely, mushrooms quite different from one another had very similar genetic histories. DNA analysis, therefore, has rewritten fungal taxonomy. Cortinarius caperatus is one of the species renamed because of DNA analysis. Formerly called Agaricus caperatus in 1796, it was renamed Rozites caperata, it has been moved around several genera, ending up Cortinarius for the second time in 2000. Unlike all other Corts, it has a membranous ring (easily seen here) instead of the cobwebby partial veil. This is one of the few choice edible Corts, minus the stem.
This could be a slime mould. They exist as single-celled organisms in the soil and then gather to create this large mass that eventually create reproductive structures.
Is it possible you have misidentified the scientific name for this one. The caps on Coprinopsis atramentaria are a lot smoother and often shorter. Could this be Coprinus comatus?
Russula emetica is a complex of many red-coloured species of Russula that are often difficult to distinguish apart. This complicates collecting them as edibles... one bad Russula spoils the whole pot!!
Without telltale signs, it is often difficult to identify mushrooms from photographs. In the Russulas, it is impossible to identify many species that way. So, many species represented on this site may be misnamed or go without identification, especially to the species.
Weeping is an apt common name for this phenomena. It is the process of guttation, a term used in botany to describe the process by which plants- and in this case fungi- excrete water excess water through their surfaces. It is a by-product of metabolism and is most commonly seen on certain polypores humid days. There is an article on this in the Fall 2010 issue of Fungi Magazine.
Based on other images connected to this one, it appears to be Fomitopsis pinicola. Don't be fooled by the name pinicola meaning pine dweller. It can also be found on some hardwoods.
These water droplet are an example of guttation, the appearance of water drops on leaves and mushrooms as a result of metabolic activity. It is most commonly visible on humid days. Another common polypore in Canada that produces this is the red belted polypore.
