Coral Spot Fungus

The asexual fruiting bodies of a Nectria sp, probably a member of the Nectria cinnabarina group of species (see here for a recent account of this group).  They were growing through the bark of a recently felled broad-leaf tree.

The sexual fruiting bodies look like small raspberries:

The two forms do sometimes grow together:

Photos taken above Hutton Village, near Guisborough, North Yorkshire, UK, on 2013-09-12.