Eichleriella cf. leucophaea

The fruit body is flat and appears on wood. The surface is off-white to greyish with a furry margin. That furriness extends to the rear surface of the fruit body and, while whitish near the margin, is reddish-brown or dark brown elsewhere. In dry conditions the margins fold inwards so as to cover much, or all, of the white/grey fruit body surface. When hydrated the fruit body is soft, certainly not jelly-like, but more like wax.  

The fruit bodies start as small, circular growths and initially you see little but the furriness. Left undisturbed the fruit body would expand radially, keeping that circular form. However, pressure from neighbouring fruit bodies may distort the growth or fruit bodies may merge so as to create irregular shapes.   

There is a good resemblance, both macroscopically and microscopically, to the northern hemisphere species Eichleriella leucophaea. However, that resemblance falls short of a perfect match, hence the usage 'Eichleriella cf. leucophaea'.