Question
I found these yellow-white fungus things on the base of a mature oak tree and cannot find out what it is. We are in central Ohio, currently VERY dry and this oak is in a ravine where it is usually moist. I cut one of the "bolls" (I dont know what to call them) off the tree and cut it open. First, there were LOTS of gnats around the bolls. When I cut the boll in half, it was made up of (I think) bark surrounded by the fungus. It smelled mushroomy. It had a maggot or two inside of it but I dont know my maggots so...can you help me know what this is? Just because I like to know...

Answer
This looks like a bleeding tooth fungi--http://www.flickr.com/photos/22795490@N03/3816318428/

Here is a discription of the conk fruiting with the red "blood" drops. http://en.wikipedia.org/wiki/Hydnellum_peckii

Looks like the one you have is a decay type fungi on the tree trunk.