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Fungus/ lichens which grow on wood ?

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Hint: Fungus is a eukaryotic organism that includes yeasts, molds, and mushrooms. Whereas lichens are organisms which form a symbiotic relationship between two separate organisms, a fungus and algae. The dominant partner is the fungi so we can call a lichen a fungus as most characteristics from its thallus shape to its fruiting bodies are determined by fungi.

Complete answer:
Fungus which grow on wood are called lignicolous lichens.
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In many colors, sizes and shapes, the lichens come and are sometimes like a plant, but they are not plants. Lichens may be small, unbleached branches known as flat leaf fruticose like structures called folios is, crust like the surface known as crustose or powder like leprosy and are visible in many growth forms.
Lichens occur from sea level to high alpine elevations in many environmental conditions and can grow on almost any surface. Lichens grow abundantly on bark of trees, leaves, mosses and on other lichens. It is estimated that \[6 - 8\% \] of earth’s land surface is covered by lichens. There are nearly \[20,000\] known species of lichens. Lichens are considered to be the oldest living species in the world. They are the first to appear on rocks after any landslide. They have a long life-span and slower growth rate. They are also termed as the pollution checkers of the environment as they only grow in areas with less pollution or clean environment.
Lichens can be commercially used as food purposes and in many other different cultures around the world. They possess high ecological importance. As they provide food, shelter and nesting material for wildlife. Desert crusts of lichens, fungi, cyanobacteria and moss reduce soil erosion by intercepting surface runoff and regulating surface water into dry soils.

Note:
Lichens are of greater use on earth than animals. Not only do they build the most important relationship between algae and fungi which are totally different categories of species but a lichen which develops on fungi called a mycobiont. Algae and fungi also possess economic importance in human life as fungi include mushroom which is a very common eatery product around the world. Algae on the other hand is a good source of oxygen.