Fusarium merismoides

Fusicolla merismoides, formerly, Fusarium merismoides can be thought of two ways: first, as a species of sac fungus or ascomycetes of the phylum of Ascomycota, and belonging to the highly diverse family Nectriaceae. The fungus's nearly microscopic body consists of a thin, branching, filamentous structure, a hypha. A second concept of Fusicolla merismoides, often encountered in field guides, applies to a kind of "slime flux" occasionally seen forming colorful, slimy, amorphous masses oozing and dripping from certain plants. Well developed masses probably contain the sac fungus Fusicolla merismoides, but possibly not. It is a fungal plant pathogen.

from Wikipedia