The specimen is a small, soft, resupinate polypore causing a white rot on pine. The size of pores (3-4/mm), the allantoid spores, the white rot, and the weirdly-shaped hymenial elements (cystidioles or basidioles?) all fit nicely. But the strangest character is that the skeletal hyphae dissolve in KOH. On my first examination of the specimen I missed the presence of skeletal hyphae completely because I had mounted the material in KOH and phloxine. After mounting in meltzers I saw them, and then went back to look for them in water and confirmed that I could dissolve them away with KOH.