Dacrymyces chrysospermus  

Dacrymyces chrysospermus (Dacrymyces palmatus) 8002

Dacrymyces chrysospermus Nees (1817) 

Dascrymyces chrysospermus (formerly Dacrymyces palmatus) is variously lobbed jelly fungus, depending on how much water it is holding, generally more egg-yoke yellow and is attached to dead conifer wood by a white mycelial cord

Tremella mesenterica, a jelly fungus in the Tremellales order is generally less yellow-orange - unless in a dried up state - more amorphous overall - especially when full of water. It grows on barked hardwood sticks. People eat them both for texture rather than taste - best in Chinese-style soups. Will spit, spatter  and almost instantly disappear if put on a hot fry pan. Those are the two most common yellow jellies. There are several others which we encounter in the region - just to confuse things further for amateur mycophiles. It is in the Dacrymycetaceae family of the Dacrymycetales order.  Fungi in this order have ‘tuning fork’ basidia.