Weird fungus - bright orange. What is it?

[conuly]

It was growing on our nearly-dead tree outside my window. I couldn't get a good picture of it, but the limb fell down recently (honestly, the best thing to do would be to chop down the whole tree now, but nobody listens when I say that) so I went up and took two pictures, one of the underside and one of the... uh... otherside.

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[conuly]

The tree has been largely dead for years now, though it hasn't affected entire limbs (mostly) until recently. Like I said, I think the best thing would be to take it down entirely. It's lost enough wood through storms that it's no longer tall enough to actually damage our house or our neighbors, but still.