Neither. It was found near a white water river, located in the foothills of the Appalachian Mountains, at an altitude of approx 3000 - 4000 feet.
This is probably a species of Calostoma. Check out a full description at http://www.mushroomexpert.com/calostoma_cinnabarina.html.
I was personally leaning towards Calostoma lutescens. http://images.google.com/images?q=C...ent=firefox-a&um=1&ie=UTF-8&sa=N&hl=en&tab=wi regardless, we have the right genus. And this is a really cool fungus to find! I haven't found one since 2004.