Multiclavula mucida

Scientific name: Multiclavula mucida (Pers.) R. H.
Petersen  
Derivation of name: Mucid- means "slimy." 
Synonyms: Clavaria mucida Pers. 
Common name(s):  White green-algae coral
Phylum:   Basidiomycota
Order:   Cantharellales
Family:   Clavulinaceae
Occurrence on wood substrate: Saprobic; scattered or
grouped on algae-covered, wet, rotting wood; July through
September.   
Dimensions:  These tiny white clubs are up to 15 mm tall and
1-1.5 mm wide.  
Description: These white, slender, cylindrical clubs are simple
or sometimes forked.         
Edibility: Unknown.  
Comments:  This lichenized coral fungus is always found in
association with green algae on debarked logs. 

More information at LichenPortal.org:

    
Figure 1. These specimens of Multiclavula mucida were
brought in at a foray. Although tiny, they are fairly
conspicuous when you know what to look for.
Photo © Gary Emberger.

Figure 2. A collection of Multiclavula mucida specimens on
wood brought in during a foray. Interestingly, the tips of the
fruit bodies are all bending in the same direction - suggesting
a response to light (i.e., phototropism) or gravity
(i..e, gravitropism). Photo © Gary Emberger.

Figure 3. Closeup of tips of fruit bodies in Figure 2. The
browning of the tips is likely due to dehydration.
Photo © Gary Emberger.

Figure 4. The fruit bodies of Multiclavula mucida are
typically erect. Photo © John Plischke III.

Figure 5. The tips of Multiclavula mucida are sometimes
forked. Photo © John Dawson.