Pycnoporus cinnabarinus

Scientific name:   Pycnoporus cinnabarinus (Jacq.:Fr.) Karst.
Derivation of name:  Pycnoporus means "with compact,
dense pores"; cinnabarinus means "bright red" or
"vermillion" in reference to the coloration of this fungus.
Synonymy:   Polyporus cinnabarinus Jacq.: Fr.
Common names:   Cinnabar-red polypore.
Phylum:   Basidiomycota
Order:   Polyporales
Family:   Polyporaceae
Occurrence on wood substrate:  Saprobic; solitary or
grouped, sometimes fused and overlapping on dead
deciduous wood, rarely conifer wood; year-round. 
Dimensions:  Caps 3-14 cm wide and up to 1.5 cm thick.  
Upper surface: Orange to reddish-orange, fading in age to
whitish; wrinkled, warted or smooth.
Pore surface: Orange-red, fading less than the cap surface;
pores 2-4 per mm.
Edibility: Inedible.
Comments: Another species, P. sanguineus, resembles
Pycnoporus cinnabarinus but is thinner (up to 0.5 cm
thick), has a smaller cap, and is not as common.

More information at RogersMushrooms.com:   

Figure 1. Intensely colored fresh specimens of Pycnoporus
cinnabarinus. Photo © Nathan Wilson.

Figure 2. Top surfaces (upper) and pore surfaces (lower) of
several foray specimens. The pore surfaces retain coloration
more than the cap surfaces.

Figure 3. Specimens that attracted the attention of the Dean
of the School of Health and Natural Sciences.

Figure 4. In time, the orange-red colors fade. Photo © Larry
Grand.

Figure 5. The pore surfaces usually fade less than
the cap surface as illustrated by the pore surfaces of
the specimens in the center. Photo © Steve Nelson.


Figure 6. Pores of Cinnabar-red polypore. Photo © Fred
Habegger.