On a stump, though surrounded by grass i the photo.
The fungus is on the bottom middle of the stump photo - not to be confused with the fluoro paint on the stump.
This was at the Cockayne Nature Walk. This area has the highest annual rainfall on the trip although it was not raining at the time of this observation. There was no wind and disturbance was minimal.
Tremella is a genus of fungi in the family Tremellaceae. All Tremella species are parasites of other fungi and most produce anamorphic yeast states. Basidiocarps (fruit bodies), when produced, are gelatinous and are colloquially classed among the "jelly fungi". Over 100 species of Tremella are currently recognized worldwide. Two species, Tremella fuciformis and Tremella aurantialba, are commercially cultivated for food.