Mycena inclinata 

Mycena inclinata03654

Mycena inclinata (Fries) Quelet 

Reddish brown conical cap with 'toothed' margin when young. Margin often stains yellow with age. Stem white near apex, yellowish at center region and darker brown to reddish brown below. Grows from decaying hardwood. Found spring and fall. Often confused with Mycena galericulata, which has brown rather than yellow-red-brown stem and an even margin. (The name refers to a European species, which we may not have here). It is in the Mycenaceae family of the Agaricales.