Looking for identification help

6.04.12     The cool, wet weather we've had recently certainly has been perfect for the proliferation of fungi.  Today, on a trip up The Nature Conservancy trail, I encountered this pink glob growing along with moss on what appears to be a pine tree in late stages of decay.  This growth may be Lycogala epidendrum, a mold.  If you have information about this, I'd love to hear from  you.  Enlarged, it looks like a collection of pink beads or bubbles of fairly uniform size.  Regardless, this pink and green combination was the brightest colored find on today's soggy ambles!