Weeping Polypore
(Oak Bracket, Warted Oak Polypore, Weeping Conk)
Inonotus dryadeus

Inedible.  An uncommon sight (in my experience), stumbled upon by happenstance whilst pursuing morels.

The weeping polypore is a parasitic saprobic fungus.  The spores enter the wounds of the host tree (typically oak; this specimen was discovered on a long-lived maple) and manifest their unwholesome appetite on the trunk of the tree, closest to the earth. 

I didn’t deign to smell the amber ooze.  I’ve read that this fungus has an unpleasant odor that shall remain enchained in the realm of my imagination – for now.