Miniature Lampposts

While watching a chipmunk scurrying around through the leaves along the lily pond trail, something caught my eye. The sun had just come out from behind a cloud and scattered across the ground. At that moment, it illuminated these tiny globes. In some places, they appeared sprinkled across the ground. In other places, they were lined up along the edge of a leaf or blade of grass. My guess is that it is a type of fungus. Interestingly, it was growing on dead, decaying leaves, and it was growing on live, green plants too.

What is this creature? How does it fit into the web of life?