These small spongy looking, tan coloured, growths were growing downwards from the bottom side of a piece of wood at the base of a decaying <i>pinus radiata</i> tree stump. They are apparently the sporangia of <i>Arcyria nutans</i> after shedding their spores. Wellington, New Zealand.
Tony Wills
CC BY 2.5
<span class="int-own-work" lang="en">Own work</span>