What is this?

[DPatton]

 Last fall I cut the 3rd and smallest leader off of a mature river birch that hung precariously out over where I park my vehicles and the corner of our house. This spring when the tree came out of dormancy the wound at the cut off poured water out of it for days and days. Now that cut off has turned into the funky, slimy, orange colored mess in the attached photo. 





Can anyone tell me what this orange slime is, and if I need to do anything about it to protect the tree? Your helpful advice is appreciated.

[Texas Ranger]

 slime mold,  Fusicolla Orange Slime on Trees | Home & Garden Information Center

[aigheadish]

Weird! 

I have a clearish, slimy, kind of oily looking substance coming out of some of the trees in my back yard. After reading the above article I wonder if it's a different but similar stuff. 

[Texas Ranger]

Introduction to the "Slime Molds"

[DPatton]

Thank you Texas Ranger your reply was very helpful.