Lycogala epidendrum

Lycogala epidendrum, commonly known as wolf's milk or groening's slime, is a cosmopolitan species of myxogastrid amoeba which is often mistaken for a fungus. The aethalia, or fruiting bodies, occur either scattered or in groups on damp rotten wood, especially on large logs, from June to November. These aethalia are small, pink to brown cushion-like blobs. They may ooze a pink "paste" if the outer wall is broken before maturity. When mature, the colour tends to become more brownish. When not fruiting, single celled individuals move about as very small, red amoeba-like organisms called plasmodia, masses of protoplasm that engulf bacteria, as well as fungal and plant spores, protozoa, and particles of non-living organic matter through phagocytosis (see slime mould for more information)....read more on Wikipedia.