Common Split Gill fungi.(Schizophyllum commune)

I spotted these interesting fungi growing on a wooden pallet as rosettes but they are more often seen as fuzzy little brackets.
Some investigative work brought this:
It is a saprobic fungus breaking down the lignin in the wood.
This tiny mushroom is actually prized in many countries for its medicinal properties and is being researched for its immunomodulatory, antifungal, antiviral properties.