The aptly named dog vomit slime mold (yuck!), it lives … and in our backyard too …
Incidentally there’s no way to get rid of it, so I recommend you just enjoy it.
These slime molds have also inspired a science fiction movie, “The Blob.” (1958 with Steve McQueen, remade 1988)
Occasionally people in more subtropical regions find large slime mold plasmodia in their yard and call the police, believing the blob has landed. It pays to know something about these organisms to avoid being embarrassed when the police come!