Walk by Torra River

This lovely fencepost made up for a distinct lack of bird life on a very boggy walk along the Torra River on Sunday - the highlight being an unexpected and tantalising glimpse of a Dipper flying upstream. With the lack of anything happening above our heads, and the need to watch where every footstep was going, all heads were down and we noticed this disgusting stuff. Is it poo/vomit/slime mould? Any ideas?
Becky

Squelchy stuff - 1

Squelchy stuff - 2 (with lovely Cladonia lichen)