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Hemitrichia calyculata  

As the sporangia mature they go from vermilion to orange (lower part of slide) to brown and finally they dry to mustard-yellow.    The peridium  then flakes off  to reval the 'cotton candy' capillitium nestled in a basal cup (upper part of slide).

The sporangia are 1-3 mm tall, top-shaped, mustard-yellow to olive-yellow, with a dark red-brown stalk.  The outer wall disappears and the contents expand to form a club-shaped, cottony head supported by a shallow membranous cup (calyculus).  This is one of our most common slime moulds and fruits on well-rotted logs and stumps, often in large numbers.