SPOROCARPS: an aethalium, ususall several to small groups in a single fruiting, Scattered to crowded, sub globose to depressed-spherical or irregular from pressure. Pinkish gray or yellowish brown to deep olivaceous or nearly black, 3 to 10 mm broad.
CORTEX: warted or roughened rather thin and fragile.
PSEUDOCAPILLITIUM: composed of long, branching folds and anastomosing flattened tubules marked with conspicuous transverse folds and wrinkles.
NOTES: Common and often noticed due to its large size and bright colour when immature.
SPORES: At first pink or gray in mass, changing to pale ochraceous or pallid. reticulate, 6-8µm in diameter.
PLASMODIUM: Pink to coral red or orange to cream.
COMMON NAME: Wolf’s milk or toothpaste slime
HABITAT: Decaying wood and less common bark
Taken from: hiddenforest.co.nz
Plasmodium carmine-red or carmine-pink developing into a grey-brown aethalium with grey spores. Aethalia usually dispersed or crowded, pulvinate, never taller than wide, 3-10 mm diam., dark grey; covered with (sometimes sunken into the wall) scales. Hypothallus inconspicuous. Cortex sturdy, persistent and consisting of several layers, the surface covered with sunken or superficial, irregularly shaped vesicles, filled with yellow fluid, drying into ± rounded scales, 0.05-0.3 mm diam. Dehiscence starts with an apical pore or crack which tears further later. Pseudocapillitium of tubules varying between 6 and 25 µm diam. with wrinkled surfaces which are smooth or minutely warted or spinulose. Spore-mass when fresh grey, later fading to beige. Spores almost colourless, 6.0-7.5 µm diam., covered with a fine reticulum of thin, low ridges, interrupted at the site of germination.
Taken from: discoverlife.org