This fungus develops on dead pine trees whose bark has fallen away. It is shiny, bright yellow-orange, lobed and convoluted, with an appearance somewhat like the surface of the brain (a gelatinous mass) once fully developed. It typically appears after a heavy rain fall.

Tremella mesenterica is somewhat similar, they are more yellow in colour, and they fruit only on hardwood trees which still have their bark. Tremella mesenterica is also known as Witch’s butter. Both these forms of Witch’s butter are edible ONLY when they are boiled or steamed.
From Ediblewildfood.com -- Click Here for more info

Dacrymyces chrysospermus is a yellow-orange jelly fungus which closely mimics Tremella aurantia, the common witch's butter. The two taxa are best told apart in the field by differences in habit and substrate. Tremella aurantia is a parasite of Stereum species and typically fruits with its host on hardwoods usually with intact bark. In contrast, Dacrymyces chrysospermus occurs on decorticated conifer wood and is not associated with Stereum species. Despite their similar appearance, the two taxa are actually distantly related as evidenced by their very different microscopic characters.
From mykoweb.com - Click Here for more information

A number of the jelly fungi can be eaten raw; poisonous jelly fungi are rare. However, many species have an unpalatable texture or taste. They may or may not be sought in mushroom hunting due to their taste, which is described as similar to that of soil. However, some species, Tremella fuciformis for example, are not only edible but prized for use in soup and vegetable dishes. From Wikipedia -- click Here for more information