Pinkish, fleshy branchlets, with what looks like secondary white fluffy mould growing on it. About 4cm tall.
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Some fungi are very poisonous so a mistaken ID could have serious consequences.
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you are on the right lines if growing from the wood its probably a Ramaria species, squeeze a bit and see if it changes colour after 5 mins =)
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I found some great images of Ramaria sp. through google images, and yes, it does look like these though not sure which one. Will read all the descriptions. Unfortunately, my specimen in the cold frame is looking a little desiccated today so perhaps the weather conditions are changing unfavourably for it.
Lat/Lng: 51.9674, -4.9943
OS grid ref: SM944341
Growing between two wooden boards laid on soil under a cold frame. Large shrubs growing very close by.