I'd guess not a fungus but a slime mould (or myxomycete) and given the colour, some genus in theo rder Trichiales. It looks like a lot of separate fruitbodies, each of which has a spore-filled net, initially enclosed within a brittle casing. At maturity the casing breaks. Have a look on the web for pictures of Arcyria obvelata to get an idea of what I mean. Of course, yours need not be this species and I mention it only because a short time ago I'd identified a myxomycete from my garden as this species.
Heino - thanks for that information. I've now uploaded an additional image (a close up of the main image) that appears to show both young and old fruiting bodies. Weird things, slime moulds!
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