This picture was taken in winter in a hollow on a dying apple tree. Note the beech leaves for scale. Later, the smoothness turned into curtains of straight slightly greyer threads a bit like stalactite formations in a cave. I think the curvy white bits you see were coating the hyphae of a different fungus
Animartco
I can't see how to upload the photo. So I'll just say it is a large white lardy splodge. I'll have to put it in the image library seperately. I havn't got the hang of communication online.