Yellow Stagshorn - Calocera viscosa

A large stagshorn, bright yellow or orange-yellow with antler-like branches often forked near the tips arising from a basal 'trunk'.  The texture is gelatinous and rubbery. 

Other Calocera are smaller and usually unbranched or forked.   There are several yellow clubs and corals in the Clavariaceae, but these are on soils usually in grasslands, and have brittle, not rubbery, fruitbodies; however, Clavulinopsis laeticolor occurs in woodland and has yellow unbranched clubs.. 

Photograph in habitat; note substrate and associated tree species.

On roots and stumps of conifers.

Best seen in autumn

Fairly common in Leicestershire and Rutland.

https://www.first-nature.com/fungi/calocera-viscosa.php