Yellow mold on top of my mulch?
I am a new homeowner and therefore new to gardening. This is my first spring in our house. We have mulch covering a number of flower bed on our backyard. One day, after a heavy rain, I noticed a moist yellow pile laying on top of some of the mulch. My first though was that some mammal (a racoon or skunk) had gotten sick adn thrown up. After a day the moist yellow curd became a slightly puff orange/peach colored mass, then became grey and wilted. After later rains, a few more yellow "piles" have appeared, gone through these changes, and wilted.
I suspected this is some kind of fungus or mold. Could this have been placed as part of the hemlock mulch I used? Should something be done about it? If so, what would you suggest? Will this hurt my flower and shrubs in the area?