Tremella fuciformis

Tremella fuciformis is a species of fungus; it produces white, frond-like, gelatinous basidiocarps (fruiting bodies). It is widespread, especially in the tropics, where it can be found on the dead branches of broadleaf trees. This fungus is commercially cultivated and is one of the most popular fungi in the cuisine and medicine of China. T. fuciformis is commonly known as snow fungus, snow ear, silver ear fungus, white jelly mushroom, and white cloud ears. T. fuciformis is a parasitic yeast, and grows as a slimy, mucus-like film until it encounters its preferred hosts, various species of Annulohypoxylon (or possibly Hypoxylon) fungi, whereupon it then invades, triggering the aggressive mycelial growth required to form the fruiting bodies....read more on Wikipedia.