I've been taking Trametes versicolor aka Turkey Tail Mushroom off and on longer than some of my children are old. A long time ago, I shared my usage of it along with other mushrooms for EBV with the now-late renowned herbalist Stephen Buhner. He put my results on his website so my experience could help others.
This humble little mushroom is an immune modulator that bolsters our immune systems. It can lower blood sugar, support gut health, lower blood pressure, lower inflammation, protect the liver, promote wound healing, etc. It is taken along with ginko to protect brain health in Alzheimer's patients. It inhibits tumor growth and detoxifies the body. Called Yun Zhi, it has been and is used frequently in Chinese medicine. This fungus is available free if you know what to look for, where to find it, and how to make use of it.
There are no deadly look-alikes to Turkey Tail. Turkey tail is relatively easy to correctly ID if you know what to look for to rule out the others. I found mine growing on the side of a log in a forest. I harvested 1/3 of it and left the rest to keep growing which is the common practice for wildcrafting. When foraging anything, always learn about look-alikes which can be deadly.
FYI: The second picture is what it looks like after I blend it with a little ethyl alcohol in my blender. I added more alcohol after that process which you see in the third picture. Why blend it? The blending macerates the marc (herb) so the menstruum (liquid) can extract more of the medicinal properties. Knowing the chemistry of which menstruum will extract what plant properties is a key to successful herbalism.
Do your research and remember to check for contraindications for existing health issues you may have. Happy herbaling!