Fungus on fungus

Spent the afternoon out of doors, hiking through the woods that separate Dry and Stone Lagoons, along the northern coast of Humboldt County. Despite a record-low December rainfall this year, the fungi of the forest are putting up copious fruiting bodies. Looking at this one I couldn't help but see a sombrero. I think the dangley bits are actually a separate parasitic fungus growing on top of the mushroom, given that similar nearby mushrooms were free of festive decorations.