Marasmius elegans, commonly known as the velvet parachute, is a species of fungus

Fungus

A fungus is a member of a large group of eukaryotic organisms that includes microorganisms such as yeasts and molds , as well as the more familiar mushrooms. These organisms are classified as a kingdom, Fungi, which is separate from plants, animals, and bacteria...

 in the Marasmiaceae

Marasmiaceae

The Marasmiaceae are a family of basidiomycete fungi which have white spores. They mostly have a tough stem and the capability of shrivelling up during a dry period and later recovering. The widely consumed edible fungus Lentinula edodes, the Shiitake mushroom, is a member of this family...

 family of mushroom

Mushroom

A mushroom is the fleshy, spore-bearing fruiting body of a fungus, typically produced above ground on soil or on its food source. The standard for the name "mushroom" is the cultivated white button mushroom, Agaricus bisporus; hence the word "mushroom" is most often applied to those fungi that...

s. It has a reddish-brown cap

Pileus (mycology)

The pileus is the technical name for the cap, or cap-like part, of a basidiocarp or ascocarp that supports a spore-bearing surface, the hymenium. The hymenium may consist of lamellae, tubes, or teeth, on the underside of the pileus...

, and a whitish stem

Stipe (mycology)

thumb|150px|right|Diagram of a [[basidiomycete]] stipe with an [[annulus |annulus]] and [[volva |volva]]In mycology a stipe refers to the stem or stalk-like feature supporting the cap of a mushroom. Like all tissues of the mushroom other than the hymenium, the stipe is composed of sterile hyphal...

 with white hairs at the base. It can be found in eucalypt

Eucalypt

Eucalypts are woody plants belonging to three closely related genera:Eucalyptus, Corymbia and Angophora.In 1995 new evidence, largely genetic, indicated that some prominent Eucalyptus species were actually more closely related to Angophora than to the other eucalypts; they were split off into the...

 forests in Australia.

Taxonomy

The species was originally described as Collybia elegans by the Australian mycologist John Burton Cleland

John Burton Cleland

Sir John Burton Cleland CBE was a renowned Australian naturalist, microbiologist, mycologist and ornithologist.-Early Life and education:...

 in 1933. Cheryl Grgurinovic transferred it to Marasmius

Marasmius

Marasmius is a genus of mushrooms, in the family Marasmiaceae. It contains about 500 species of agarics, of which a few, such as Marasmius oreades, are edible. However, most members of this genus are small, unimpressive brown mushrooms...

in a 1997 publication.