Sorry about the tree, but that is a fabulous display of fungi!

Tree bracts and very pretty. Your magnolia is extremely unlikely to regrow

yes it does look like its had it now. the fungi are spectacular.

Hi Casso...
That's sad about your tree, but very amazing fungus !

Looks like Turkey tail fungus, Trametes versicolor.

Little ra-ra skirts! Remember them?

Thank you for all your comments. What do I have to do about the fungus to get rid of it please?

The stump is dead and will not regrow - fungi grows on dead, rotting wood. You can try and dig it out or at least cut it as close to the ground as you can then use a stump removing 'paint'.

I'd just leave the stump alone to rot down naturally if you can, good source of food for various beasties.

What to do with the fungus? Make it into soup for the dear man who cut the tree down. I think its really rather nice and I would just enjoy it. Deadf tree trunks make good supports for climbers like clematis too.

When we had to have a weeping silver birch cut down (too near the house) we intentionally had a 1 metre stump left and grew Clematis alpina over it, took a while to clamber over but it looks wonderful each year now.

Thank you all. I googled Turkey Tail fungus and found it is used in China as a treatment for cancer.

Lots of odd plants and animals parts are used as medical treatments in China - as to whether they are safe or not that is a different matter!