Rhodotus palmatus

Common Name: None.
Description: Cap 2-5 cm broad, broadly convex, dry, covered with ridges and pits, brick-red to flesh color. Stalk 15-30 mm long, 4-6 mm thick.
Habitat: Single or several on logs and branches of hardwoods during cool, wet weather in Spring, Summer and Fall. Rare.
Edible: unknown.

Source: Mushrooms of North America by Orson K. Miller, Jr.