The cap is bright orange to orange-red, smooth or wrinkled. Gills free, whitish becoming pinkish or brwnish. Stem is whitish above, yellow-orange below. 

Photograph from top-down, in side view, and underneath to show gills and full length of stipe; note habitat and substrate.

On decaying wood, especially Elm, but also on other species

Fruiting from early summer to late autumn, provided the weather is mild. Most often fruiting from mid-summer to mid-autumn.

Widespread but uncommon (Kibby V2, 2020)

https://www.first-nature.com/fungi/pluteus-aurantiorugosus.php