This is a slime mould. On the fence you see an excellent example of the fanning out growth during the mobile, feeding stage. Given the white-shelled fruitng bodies, with the dark spores inside, I'd guess this is a Physarum but @Teresa could offer a more auhtoritative opinion.
Sorry for not logging in sooner. A beautiful example of the phaneroplasmodium (the fanning out growth) one will often see in nature. Physarum species are usually the most most obvious at this stage of growth but its impossible to identify positively without microscopy. As Heino has suggested the white-shelled fruiting bodies, with the dark spores inside are suggestive of several species of Physarum such as P. luteolum, P. cinereum or P. bitecum. This is a great find and would be a great herbarium specimen.
@debhart hope you can collect so we can do some microscopy and get a positive id for you. We also found a new one in our backyard last week. This time of year can reveal some wonderful species. Thanks for your interest. T