AKA Coriolus versicolor, White-rot Fungus, Many-zoned Polypore
In season from May to December; found on dead wood.
See Mushroom Expert for more info.
Trametes versicolor is in the order Basidiomycota and division of Hymenomycetes (Bracket or Shelf Fungi). These are sometimes called polypores because the spores are produced inside tubes that line the underside of the fruitbody, which look like gills but are called pores. Bracket fungi do not have stems and tend to grow in half-circle configurations with tough, leathery fruiting bodies. Some bracket fungi are parasitic on living trees but mostly they provide the ecological service of decomposing dead and rotting wood.