This is a vermilion waxcap (Hygrocybe miniata), a very small and very red mushroom, as a fresh start of a new week of Colour Challenge photos:
Olympus XZ-1, 28mm, ISO400, f5.6, 1/60s
They look like this when they are a bit older:
Olympus XZ-1, 28mm, ISO400, f8, 1/80s
Should be red enough 8-).