There are many types of coral fungi that are incredibly eye catching, so I doubt this will be the first species you see here. This one in particular is known as Clavulinopsis corallinorosacea, and it is found in Australia. I haven't been able to find much about this specific type of Clavulinopsis other than photos of it, so if anyone has information please send it my way! But regardless, those colors! Does this not look like some delicate sea life form that you would see on a snorkling excursion? Lovely.
This structure was knitted as part of my 52 Forms of Fungi project, through which I will knit a different type of fungi for every week of 2013. Check out more of the forms from this project.