The black, knobbly stuff is the glue the fungus exudes in order to stick branches together.
The greyish-lilac crust on the bark beneath it is the actual fungus fruiting body.
The white fuzz is new growth where the fungus is expanding.

The black, knobbly stuff is the glue the fungus exudes in order to stick branches together.
The greyish-lilac crust on the bark beneath it is the actual fungus fruiting body.
The white fuzz is new growth where the fungus is expanding.