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Four different fungi, all on the same decaying beech tree trunk at Bowlees in Teesdale. Dead trees are a wonderful resource for fungi, mosses and many small invertebrates.
I think this is yellow curtain crust Stereum hirsutum , growing on the cut end of the trunk.
This is the young stage of the porcelaine fungus Oudemansiella mucida
... and here it is with the slimy caps fully expanded
... and this is another Stereum species, although I'm not sure which. This is a young stage .....
.... and this is the same at a more mature stage.
And finally, I think this is the many-zoned polypore aka turkey-tail fungus Trametes versicolor
I found these fine specimens of the fungus commonly known as turkey tail (Trametes [Coriolus] versicolor) along the Raisby Way disused railway line near Durham this afternoon. If you have a vivid imagination those concentric strips of colour resemble the bands of colour in a turkey's tail.
It's a very common bracket fungus that has excited a lot of scientific interest in recent years, for several reasons. It has long been used in China to make traditional medicinal infusions and research over the last few years has identified components in the fungus that have promising anti-cancer activity. Also, the fungal mycelium that proliferates in dead wood, causing white rot, secretes powerful enzymes that break down woody tissue and may have value in biofuel production from wood waste, as well as in breaking down industrial pollutants. Not just a pretty toadstool, then....