Its the Fly Agaric (
Amanita muscaria), they're poisonous. The fairytale mushroom from Europe, its an old Polish trick to fry them on a piece of tin and then leave it out to kill flies. Apparently they're fairly common, but I had never seen them before. They're usually found under pine trees. If you're interested in identifying your fungii this site may help.
http://www.anbg.gov.au/fungi/index.html