Slime molds are just what their name implies: slimy.  This is a fungus that grows on dead wood in the presence of warmth and high humidity or dampness.  It resembles a member of a group of fungi called Hydnaceae or teeth fungi.

Since almost all fungi grow on dead wood, do some investigating on what it is growing on because that portion is dead. Your photo shows some kind of dead wood with no bark.  The fungi are not a problem or causing a problem.  they are just indicators of dead wood.  They did not make it dead; they just are taking advantage of it.