I cannot see the specimen. If I were to bet, I would say it is a pill bug (family Armadilidiidae, Crustacean) because these creatures are usually common on dead wood. That is why they are referred to as "wood lice".

This bears a superficial resemblance to a species of Calocera, or possibly a member of the Clavariaceae - two very different groups of fungi! - hard to say without microscope.  Also wood spp. and location of find might help narrow it down. Cheers TimP

Could be Yellow jelly fungus on dead wood, Dacryopinax - Genus; Dacrymycetaceae

https://en.wikipedia.org/wiki/Dacryopinax

I've not come across Dacryopinax before - certainly a quick google search makes me think also that this is a good suggestion (it's related to Calocera spp which are also in the Dacrymycetaceae, but I think the pictures of Dacryopinax on the internet look much more like the fungus) TimP

Geddada Mohan Narasimha Rao Sir

The above specimen is a species of fungus, Dacrymyces spathularia (=Dacryopinax spathularia) in the family Dacrymycetaceae. It grows on both rotting coniferous and broadleaf wood. This fungus is edible.

https://efloraofindia.com/2011/02/23/dacryopinax-spathularia/

Chapter Dacryopinax spathularia: a wild nutraceutical mushroom of India

Thanks!

Thank you Dr Arvind Singh for your kind information