Omphalotus Nidiformis: A bioluminescent mushroom found in many parts of Australia.
Drawn using GrafX2 in 2019, compiled into an executable ROM for a GameBoy, thus the 160x144 dimensions.
11 photo references were used, the primary of which, as correctly identified by @Hapiel, being this image. Thank you all for your high quality feedback during the submission process; definitely much food for thought that has already influenced my current drawings, I look forward to posting my next submission! | 
There is clearly an intent on the position of *most* pixels, althoug it's hard to understand what's going on without the reference.
The palette doesn't help readability either but after i realized what i was looking at, it actually looks pretty. It would probably look better without all the mess on the ground - just the mushroom vs the background i think.