This is a 19th century, Japanese hand-carved, unique, one-of-a-kind, Sugi Wood (Japanese Cedar) Netsuke depicting a couple of large mushrooms, with a three-dimensional image of Okame right in front of them. Very nicely detailed mushroom gills. Three smaller mushrooms appear on the base of the large mushrooms. The spaces between the mushrooms serve as natural himotoshi. It is signed Masamitsu on the base of the mushroom on the right of the Okame image.
Netsuke measures 1.54 inches (3.9cm) wide, and 1.22 inches (3.1cm) tall. It is in excellent conditon, as may be seen in the posted photos.
Note: a reference to the carver Masamitsu and his signature can be found on page 715 of George Lazarnick's 'Netsuke and Inro Artists and how to read their Signatures", 1982.