Two specimens collected and examined microscopically by Alan Bessette, who determined them to be C phycophila.
The undulations are hollow and will break fairly easily. Growing on what I believe is a dead hardwood. No obvious parasitism going on. No discernable odor. First micrograph at 400x (1div=2μm) showing septate 4-spored basidia. Second micrograph at 1000x (1div=1μm) showing clamp connections?
Under oak, birch, and hemlock. Growing in large groups.