Bleeding Tooth Fungus. The fluid you see bleeding out has anti-coagulant properties similar to heparin. It is inedible, not because it's poisonous, but because of it’s bitter taste. When the mushroom matures it turns a brown color. These mushrooms are highly prized by “Mushroom Dyers” as the body gives wonderful colors of beige when no mordant is used, to various shades of blue or green depending on the mordant added to agitate it.