It is creamy white underneath and the top part seems to be blending into the tree bark, almost as if it mimicking it.

This is the feature I thought was most interesting too. It has the exact same bark splitting shapes and colors.

On really old hollowed out trees, when the inside becomes wet and the bark rots away, I have found some of the most amazing black compost buried inside trees. All kinds of fungi, moss, bacteria, and micro organisms turning the compost into something alive and healthy.

Sometimes these damp spots where mushrooms grow can kill the tree over time, mainly because the water isn't draining. I'm attempting to learn how moss is beneficial or damaging to tree growth on some species. Anywhere damp and shady it seems to grow best.