Sarcodontia setosa

Scientific name:  Sarcodontia setosa (Persoon) Donk
Derivation of name:  
Synonyms:  
Common name(s):  
Phylum:   Basidiomycota
Order:   Polyporales
Family:   Cyphellaceae
Occurrence on wood substrate:  Saprobic; forming
spreading, crustlike patches on logs and branches of
deciduous trees, especially fruit trees such as apple; July
through October. 
Dimensions:  Fruit bodies 5-20 cm across; spines are 5-10
mm long.   
Description:  This bright yellow spreading crustlike fungus is
crowded with pendulous, waxy spines. The spines stain
reddish where bruised and the fungus has a sweet-fruity to
intensely unpleasant odor.   
Edibility: Inedible.
Comments: I have yet to encounter this species in a natural
habitat. It is apparently widely distributed but not common.
  
More information at RogersMushrooms.com:   

    

Figure 1. This specimen was collected at the 2001 NEMF
foray. The reddish mark in the center may be an example
of the wine-red stain which occurs following bruising.
Photo © Gary Emberger.

Figure 2. This specimen was collected from a dead apple
tree in PA for an EPM foray. Photo © Gary Emberger.

Figure 3. The yellow, pendulous spines can be up to 10 mm
long. Photo © Gary Emberger.

Figure 4. Teeth of Sarcodontia setosa.
Photo © John Plischke III.