I think it's Hydnellum peckii, aka a Bleeding Tooth Fungus. Apparently the red fluid that 'bleeds' out is an anticoagulant, which I find amusingly appropriate.
Great picture. It helps us to ID it when we find it. The key to hydnellum is below the cap. I didn't see a picture of that. Did you identify the teeth under the cap?
John S
PDX OR
John Saltveit wrote:Did you identify the teeth under the cap?
They weren't very visible as the whole thing was embedded in a mass of pine needles. I should have photographed them anyway I guess, but it's too late now as my other half decided to run off with it and put it back in the forest and hope it spreads. I'll keep my eyes open for another one!