Phlebia incarnata

Scientific name:   Phlebia incarnata (Schweinitz)
Nakasone & Burdsall
Derivation of name:  Phlebia means "veins";
incarnata means "flesh-colored."
Synonymy:   Merulius incarnatus Schweinitz
Common names:   Coral-pink Merulius.
Phylum:   Basidiomycota
Order:   Polyporales
Family:   Meruliaceae
Occurrence on wood substrate:  Saprobic; forming
overlapping clusters on dead deciduous wood;
September through October.  
Dimensions: Caps 3-10 cm wide and 2-4 cm long.    
Upper surface: Coral pink when fresh, fading to
pinkish-white; finely hairy.
Pore surface: Pore-like with netlike folds or shallow
elongate pores, branching and cross-veined; whitish to
orange-white to pinkish-orange.
Edibility: Inedible.
Comments: The network of radiating and cross-veined
folds and ridges on the fertile surface of Phlebia species
is not a true tube layer as in the true polypores. Basidia
cover just the lining of the tubes in the true polypores but
basidia cover the entire surface of the pore-like layer in
Phlebia.

More information at MushroomExpert.com:   

    
Figure 1. Phlebia incarnata on wood.
Photo © John Plischke III.

Figure 2. Specimens brought in during a foray. Photo © Gary
Emberger.

Figure 3. The pore-like surface of Phlebia incarnata
is highly unusual. Photo © TomVolk.

Figure 4. Instead of pores there is a network
of branching and cross-veined ridges.
Photo © Tom Volk.

Figure 5. The ridges are narrower than those in Figure 4 but
similar in basic appearance. This is the underside of one of the
specimens in Figure 2. Photo © Gary Emberger.