It is one of the most widely known and distinct slime molds, being found throughout temperate regions of the world, primarily in Europe and North America.

[4] T. ferruginosa is often found growing on damp rotten wood in temperate forests.

It forms small, cushion-like "pseudoaethalia", or fruiting bodies from June to November that are bright red when young, and purple-brown when mature.

These "pseudoaethalia" are different from the aethelia of other slime molds like Fuligo septica, because they are made of tightly bunched, gelatinous rods, or sporangia.

[5] The pseudoaethalia is anchored to a surface by the hypothallus, a spongy, raised structure that appears light in color.