I came upon this growing in my yard and have never seen this before, can anyone identify what it may be?
welcome!! looks to be some kind of fungus. might get more assistance if the pic is posted on the fungus & lichen forum. maybe a mod can move the thread for you (since you're new, you don't have the ability to do that yet).
No, this is a flowering plant, but it does not produce chlorophyll. It is Monotropa uniflora. Those little bells are the flowers.
Looks like Monotropa uniflora. Common name Indian pipe. http://images.google.com/images?hl=...=monotropa uniflora&um=1&ie=UTF-8&sa=N&tab=wi