Seen while hiking Mount Si, King County Washington, at about 1000 feet elevation

Tenative identification of the orange fungus Dacrymyces palmatus Orange Jelly fungus
Dacrymycetaceae Witch's Butter

although I think I will keep this as tenative as I do not know the substrate material.
The reason to know the substrate (what type of log this fungus is on) is described in www.ubcbotanicalgarden.org/potd/2005/04/dacrymyces_palm.php

"Tremella mesenterica may also be confused with members of the Dacrymycetaceae family, like Dacrymyces chrysospermus (formerly D. palmatus), due to their superficial resemblance.[12] Microscopic examination shows that the Dacrymycetaceae have Y-shaped basidia with two spores, unlike the longitudinally split basidia characteristic of Tremella;[21] additionally, D. chrysospermus is smaller, has a whitish attachment point to its substrate, and grows on conifer wood." http://en.wikipedia.org/wiki/Tremella_mesenterica

A further explanation Dacrymyces palmatus

Jelly Picture Key

and also note Tremella mesenterica Tremella mesenterica