Help! What is this...?

[Mycos]

>
>Here's my guess:  It is transforming plasmodia of Lycogala epidendrum or
>Tubifera ferruginosa.   Both are common slime-molds.  The former is very
>common in PNW forests, and when ripe, looks like little red BBs.

Speaking of.....I found attached to a Populus of some species, a
little...what looked like a little gray puffball.But when I squeezed
it, this bright, almost fluorescent looking pink slime came out from
inside. I've never seen or heard of such a thing before or since.
Any ideas?

G. Williams