Clavaria vermicularis

Common Name: White Spindles
Description: Fruit body 5-16 cm high, 3-5 mm wide, simple, cylindrical, becoming flattened, groved; white, yellowing with age. Stem. indistinct, cluster branched only at base.
Habitat: in tufts or clusters in moist soil, grass, fields, and woods. Sometimes common. Found widely distributed in many parts of North America.
Edible: yes, but not worthwhile.

Source: Mushrooms of North America by Roger Phillips.