I have never seen this before and i have not been able to ID this it appears to be possibly a Hypoxylon of some sort. The outer layer i leathery like and seems to burst and exude a red, substance. like a slime mold. Some have what appears to be a white covering. So any Ideas? Growing on an old stump. With is where several species of ink caps ( Corprinacea) and Oyster mushrooms (Pleurotus ostreatus )