This was growing on the underside of an oak log.
The specimen has light purple to violet-blue to blue-green to green to yellow-green color in both the mycelium and tooth like protuberances. The mycelium is light and fuzzy.
The spores match other specimens I have found:
http://mushroomobserver.org/169610?q=24dM7
http://mushroomobserver.org/138456?q=24dM7
Sp. fresh blue, in KOH yellow, winkled, 7×5. No clamps.