Hygrocybe laetissima, also known as the cherry-red waxy cap, is a species of gilled mushroom found in North America.

[1] It appears to flourish in association with redwood forests.

[2] It also overlaps somewhat in range and appearance with Hygrocybe coccinea.

Not recommended as an edible mushroom because close cousins (namely, punicea) have made people sick.

[2] This mushroom species was first described by Alexander H. Smith and L. R.