When I came upon this growth on a fallen oak bough in my local wood I thought what a wonderful distinctive colour and pattern it made upon the bark. And when I investigated closer how fine and fluffy the spreading like tendrils were at the edges.
Photograph of Wet Rot (Coniophora puteana), taken November 2016, local wood, Staffordshire. © Pete Hillman 2016. Camera used Nikon D7200, with Sigma 105mm macro lens.