Rasberry red slime.

I found this in the woods today. I love discovering new fungi. The wild variation in how they look always puts a smile on my face. A bit like above ground coral.
OK, I have been trying to figure out which fungi it is, but now I am starting to wonder if it isn't bugs eggs. Does anyone know?
Ah, a friend figured it out: Fungi it is - Red Rasberry Slime. Any one want to try some?