Hypomyces lactifluorum
They call this mushroom the Lobster due to its coloring not its taste. Although it goes well with shellfish it does not have a seafood flavor. The Lobster mushroom has a pleasant mild odor and crunchy texture. The flesh is white and crisp when it is fresh. This mushroom should be sautéed. Use a combination of butter and olive oil with fresh thyme, chopped shallots, salt and pepper. The Lobster mushroom pairs nicely with eggs and sweeter varieties of seafood and works well with cream or milk based sauces.
The Lobster Mushroom is usually of the Russula species that has been parasitized by the genus (Hypomyces). This process is what causes the red to redish purple coloring and the smoothness of the gilled area to form. They make a nice colored dried mushroom with the white inside and red outside.
The Lobsters are really popping. Quite a few are being seen out there. Get them before they turn to mush. They are really good sautéed with butter and garlic on top of your steak.