Antrodiella zonata
(Irpex flavus)
A tooth fungus. (Hydnaceae). Note the "teeth" under the cap.
According to Shirley Kerr, this can be whitish, or the apricot colour shown here.
It is on the Pest List for Australian timber imports, but fortunately it is also found in Australia and so no problem to exporters of New Zealand wood. In fact it seems to be found on trees just about anywhere.
