I am classifying it as a fungus, but I'm not even certain about that.
No identification made yet.
No interactions present.
I think it could be Tubifera ferruginosa,I have found this but mine was bright yellow,but it does say it can be pink and your stuff look's light pink. It is on page 376 Jorden's book.
Just a thought
Could be a slime mould but not right for Tubifera ferruginosa, sporangia don't look right, not well defined.Would be interesting to see how it develops.
I would agree with it being a slime mould. I might have suggested a Stemonitis sp but these things are hard enough when they are mature let alone at this stage. Many of them start out as just jelly like blobs (usually white) and then develop structure and often different colours before maturing.
Thanks for the help. The site is not so near home that I feel like following its development, so I suppose we won't find out.
Lat/Lng: 54.4, -6.6
OS grid ref: NW0215