Pseudohydnum gelatinosum

Said to be an edible mushroom. Although bland, it can be candied or marinated.

This mushroom looks for all the world like a tiny, gelatinous tongue in need of a shave; its underside is covered with tiny spines. It is a Jelly Fungus that looks like a Toothed Mushroom,

From MushroomExpert.com -- Click Here for more info --

Pseudohydnum gelatinosum is a jelly fungus with a lower surface that mimics a tooth fungus. The resemblance, however, is superficial. Tooth fungi have fleshy to leathery fruiting bodies, not gelatinous, and none are translucent.

Edible, can be eaten raw, but without a distinctive flavor.

From mykoweb.com - click Here for more info