A small number of Hypholomas (which in my experience vary in appearance widely) resemble the appearance of trail-fruiting Ps. pelliculosa - very, very closely. They can be macroscopically separated in the field because the Hypholoma will not have a separable gelatinous pellicle. By contrast, pelliculosa will consistently have a separable gelatinous pellicle. I am curious if DNA sequencing has been done to specifically compare these two species (probably Hypholoma marginatum?)