Armillaria mellea-Honey Fungus

Still in Devon I spotted what I think is Honey Fungus on the stump of a tree, I wonder if that was the reason it was cut down?

Fungus, Eggs or What?

Often on our early morning walk with the dog we come across this weird stuff on the grass, it changes from yellow to white after a day or so. I have looked in my mushroom and fungus book and I have checked my nature book and I haven't found anything remotely like it. Anybody know what it is?

Update : A suggestion from my friends in Essex it maybe a Cercopidae, common name Spittle Bug