This beautifully coloured fungus (a very coarse polypore) was growing on a branch at the Bearberry Prairie Natural Area or the adjoining Sundre Natural Area, on 13th August.

Added on 13th December 2010: many thanks to Harvey Medland who suggested Polyporus Alveolaris for the ID. Actually, I've just noticed botany friend, Doug, who took photos of the same specimen, had given a similar ID - Polyporus Alveolaris s. lato. Thanks to both of you : )