I have to say it is a new one on me too, so when I 'Googled' the phrase "fungus on lawns" the photos of the results I got matched the one in our garden, which is how I came up with an ID.
I think the best thing to do is to remove by gloved hand as much as I can then hose it down with water. I'll keep an eye out for it reforming and repeat the process. One report I read said you can't completely eliminate it as the spores get dispered and then grow again under the appropriate conditions.
As you say George, it does look 'orrible. The spores must have blown in from elsewhere as this is the first time it has appeared here. The conditions that make it thrive are not unusual either for this time of year, so I would have expected to have seen it before now.
The research I read states it also doesn't do any harm to other plantlife, which is some good news, but it just looks unsightly and very off-putting.
Anyway, just thought I'd share that one with you.
