On 7/23/06 it has grown to about 4".  I have no idea what it is.
Ellen, the fearless leader of BMC , was the first to recognize it as Fomitopsis spraguei
Next Darvin DeShazer, of Sonoma County Mycological Association, confirmed it.
Next Bill Neill, of BMC, identified it independently. I would say it is a baby...
Fomitopsis spraguei
Polyporus spraguei
Tyromyces spraguei

Here is a side view.

I am going back and keep photographing it until it grows up :o)

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