CORRECTION: Further research shows me that the younger growth stage of Stemonitis axifera looks exactly like this yellow, eggy mass. I see a more mature form of this slime mold above the yellow eggs, so I’m changing my mind and calling it all Stemonitis axifera.
Slime molds can be found in many colors, yellow being one of them. This on is called “insect egg” because of it’s appearance.
This picture was taken June 21, 2011, in Green Lane, Pennsylvania, USA, in a hardwood forest.
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Here is the brown, more mature phase of this slime mold:
Brown Slime Mold – Stemonitis axifera