The characters that help with identification are the colour, the distinctive 'dumb-bell' shape of this immature fungus and again the distinctive ornamentation on the top of the cap. The time of the year, February, is when these mycorrhizal fungi would be around. Mycorrhizal fungi are soil fungi associated with the roots of plants where both organisms benefit. This is a symbiotic association and sometimes called mutalistic because both partners in the association benefit. When you see these again try and note the nearby trees/plants. I suspect it may have been near a Myrtaceae probably a Eucalyptus or Angophora species. Be interesting to hear if you recorded this information.
That would be good to keep in mind and have a liitle investigation! I find them usually later in the autumn, though having said that I found one the other day.
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