Mushroom a small drop of orange rubbery jelly, less than an inch across. Grows on dead wood and is especially fond of fence rails. Dries up and revives when the weather turns wet.
Common in Wildwood, look for it on the split rail fences.
Orange jelly (Dacrymyces chrysospermus) is much larger and forms convoluted masses. Witch's butter (Tremella mesenterica) is more yellow, and also larger and convoluted. Yellow tacks (Bisporella citrina) are more regular and bright yellow.