Myxogastria (Badhamia utricularis)

Looking like a layer of fuzz at first sight, this slime mold was growing on the underside of a very damp eucalyptus log. The individual structures were not discernible so it was a wonderful surprise when I could view them in the photos later.
The filamentous structures were about 10 mm long and hanging at the ends were clusters of purplish sporangia with white dusting of lime on the outer surface. the sporangia (spore sacs) would have been about .5 to 1 mm in diameter.
The stiff whitish hairs on the wood are pin mold (fungus) and not related to slime mold.

Some of the photo is unclear, sorry about that - I had great difficulty getting access to the slime mold and was totally sodden and covered by small leeches by the time I finished photographing them.
This was a wonderful and lucky find for me and I wonder if I'll ever see this again !