Laxitexum bicolor, a Rare Bracket Fungus
Our group found this on a fallen Beech tree Fagus sylvatica on Sunday.
It is a pathogen of trees. There have been only 42 previous officially-recorded sightings in the UK, 7 in The New Forest and one previous one where we were, on Newtown Common. Our leader found it.
It was only about 4cm across and had not fully formed a bracket yet and was presenting its underside. For more information and an image of more-mature stages see;
The stereo is crosseye.
Olympus EM-1, Olympus 4/3 50mm f2 macro, 1/10 at f11 ISO 800, hand-held.