The thick, cylindrical stem of an Aseroe rubra fungus or anemone stinkhorn is visible when seen from the side. The whitish, hollow stem probably earned the horn part of the stinkhorn name. The smelly feature of the stinkhorn fungus seems to be variable, often minimal.
These fungi appear to be associated with damp, shady places heavily mulched. They are said to multiply after heavy rain.
Stinkhorns may not be directly toxic or harmful, but being fly-frequented, inadvisable to leave where children might eat or even touch them (Wikipedia; https://australianfungi.blogspot.com; www.mushroomexpert.com).