It was the most different of the fungi out there along the road the runs away under the dam, and I haven't seen any from East Gippsland where I usually look for fungi to photograph either. There's just a damp strip that was home to the ones I saw yesterday. Thinking along the road that goes out to Corin might be worth a try next week too.
I'd be very happy with Fistulinella mollis if the texture had been noted as very soft (e.g. marshmallow-like). Otherwise, I'm wary since some Tylopilus, for example, have colours a bit like this. For now, I'll park it in Boletales.