Fungus, or is it Fungi?

I think it is a fungus of some kind. It looked pretty. Rather like a cascading waterfall. Maybe it is a moss. Can anybody out there identify it?

I took the picture in Sheppard's Bush Conservation Area in Aurora, Ontario, Canada where I live while on a walk with my wife. She found it, I shot it.

Also, I started blipping one month ago today (the 7th).

Yesterday's blip: Canadian Cedar-Planked Salmon - Labour Day Dinner