Peach delight

An interesting growth on a Christmas tree. It seems to have grown in parts where the tree branch has been cut. Any ideas as to what this can be? It is solidified, peach coloured and mostly opaque. Could it be fungus? Or some resin/gum kind of residue?
Nature Observations campusbiodiversity christmastree flora floralbeauty fungi fungus greencampus growth naturewatch observation observationskill observernature peach plants urbanbiodiversity
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My name is Adithi Muralidhar. I am a nature enthusiast based in Mumbai, India.