Like Kevin says. there are thousands of different fungi and the vast majority are benign, many even beneficial. there's only a few that are troublesome. I get quite a few different fruiting bodies coming up in my pots but rarely have problems with the trees. I suspect that, given reasonable conditions most trees can fight off infection of most fungi and survive.
Armillaria is one genus that causes root rots. They do produce small yellow coloured fruiting bodies but I'm also not a fungi expert and they are notoriously difficult to identify accurately, even harder from a small photo. You might be able to search a bit and see what you can find Pearcy. You will probably also find treatment if you think it warranted.
Not one of those magic one's is it
Doesn't look like any of the magic mushrooms I know Bodhi. Probably best not to test it out
