The two most common yellow jelly fungi we see are Tremella mesenterica and Dacrymyces palmatus. Dacrymyces palmatus is generally smaller and more orange in color. But, depending on the stage of their growth, they can be confusing to distinguish - unless you know the wood appear on! In this case, as Roger pointed out to me, the gelatinous fungus was fruiting on Pine - and that means this is Dacrymyces palmatus. Tremella mesenterica only fruits on rotting deciduous wood.

However, to really blow your mind, it is amazing to learn that the fungus is actually parastic on the mycelium of wood rotting fungi like Stereum ostrea and crust fungi in the species Peniophora.