Another post about slime moulds (Myxomycetes).
The Lycogala terrestre is a slime mould that I've encountered only twice in the past decade even though it is classed as 'frequent'. It grows on dead and rotten wood in general. It is small, has a spongy texture, and has a sheen. When young it is either bright pink or orange but at maturity it pales and turns more pallid brown or even grey.
It is more easily missed then, as it blends into the structure of the bark.
Dimensions: 0.5-1.5 cm diameter. At maturity the outer surface breaks down like puff balls and emits powder like spores from an apical pore or a crack might split open. It can be seen mostly all year round. The spores can be pink, salmon or yellow.