The forest, we know, possesses untold treasures. But the best part is perhaps, when you encounter them, where you least expect them – on the bark of a dead tree, stumps, under a fallen bough under a decayed branch. I am referring to the colourful fungi found lined up on dead tree trunks and branches. Red, Yellow, brown or white – they are very pretty to look and add beauty to the forest.
One has to only imagine and these wood decomposer’s in a natural eco-system assume various forms – lined up straight together, they make a beautiful staircase, lined up horizontally they resemble little lamps, like the ones used during deepawali. Sometimes, it is difficult to even spot the fungi. Like for instance when white fungi are found partially buried/covered with red mud and when fallen leaves shield them.  
Dhoni forest, Western ghats, Near Palakkad Kerala, 07Dec2009,
Habitat: On a dead tree still erect, Size:3-4 inches, 

This is dried up (molted) Basidiocarp of Pleurotus sajor-caju from the Class Basidiomycetes. this one is edible one. But never never tastes any wild mushroom. They can be extremely poisonous and can lead to your death. 

Can it be Pleurotus pulmonarius as per Wikipedia, in view of Wikipedia link on Lentinus sajor-caju & remarks as below:

Cultivatormycologists often incorrectly use the name Pleurotus sajor-caju for some warm weather varieties of Pleurotus pulmonarius, a commonly cultivated species of Oyster Mushroom. The real Pleurotus sajor-caju is a completely separate species of mushroom, which was returned to the genus Lentinus by Pegler in 1975. However, the name Pleurotus sajor-caju has been misapplied so often, even in scientific texts, that confusion about the species name is persistent.[1]
Lentinus sajor-caju (Fr.) Fries. (syn. Pleurotus sajor-caju (Fr.) Sing.) has a distinct veil, a persistent ring on the stipe, and flesh composed of trimitic or dimitic hyphae. P. pulmonarius is monomitic and has a bare stipe.[1]

The booklet i have does not inform about the presence of “persistent ring on stipe”, in P. sajor-caju. The following links may be useful (don’t know if those id are correct) –

Please show the upper side.
Seems Panus