I found this bright orange stuff years ago on decaying tree stumps and logs in the south eastern woods of Vermont. These are the only two photos I have of it. The stuff felt like firm jell-o, but drier, and it didnt really smell like anything. It was springtime, if that helps. Ive been searching the net off and on for years trying to find out what it is. No one seems to know! The colors in the photos have not been alterd in anyway, I swear. People keep asking if I changed them.
Might be a slime mold. I found a photo on the Internet like it by looking up orange slime mold, but they didn't know what it was either.
looks very similar to this one (although i don't know what it is)... http://homepage.eircom.net/~hedgerow7/orange-slime-mould-0602.JPG
I've been searching the net ever since this : http://www.botanicalgarden.ubc.ca/forums/showthread.php?t=16135 appeared, but have yet to find any i.d. for red/orange slime molds. Frustrating....
That orange stuff was a complete mystery to us too. We set out to figure it out, and it turned out to be a giant colony of a tree stump-loving yeast. I think it's pretty darned interesting. Please see our post here: http://blog.mycology.cornell.edu/?p=1196 Kathie