No, really, if you know, please tell me! This stuff is driving me crazy (although there are those who would argue that I reached crazy long ago...but I digress). It is growing on the pawpaw trees along one of our trails in the work swamp. If I can ID it then I can include it in some meaningful way during the interpretive hikes I lead. Currently I just point it out and say something intelligent like, "I don't know what it is, but isn't it cool?" Not exactly stellar interpretation and education ;)
So, what's your guess? Fungi? Lichen? Slime mold? Alien being from space?