Epic seems to have fallen in love with the idea of ultra rare items that can spawn or be found in the game. In Season 3, Epic has now added the Golden Mushroom which can be found by lucky players who basically hit the in-game lottery!
Season 2 featured the Mythical Gold Fish that you could find from fishing holes and a whole lot of luck. You could heave that item at other players and if you hit them it could deal 200 damage! This time it looks like the item will be more helpful to you surviving the game.
What Does the Golden Mushroom Do?
If you're lucky enough to find the Golden Mushroom, you can consume it from the ground and gain 100 Shields. DO NOT GATHER IT! If you do it will turn into a regular mushroom and you'll only get 5 shield. So, if you somehow find this thing in the wild, make sure not to grab it up off the ground. This might be a bug, so hopefully it gets fixed in the future.
How to Find the Golden Mushroom
The Golden Mushroom is an extremely rare drop that spawns randomly at any possible mushroom spawn. According to SypherPK, the actual rate of finding one of these is a 1-in-10,000 chance. So, each time a mushroom spawns, that particular spawn has a 1-in-10,000 chance of being a Golden Mushroom!
Mushrooms spawn in dark wooded areas, so any heavily forested part of the map will likely have mushroom spawns. The one that was found by Sypher and crew was found just north of Misty Meadows in the forest are above the lake. There's likely not too many spawns right now because Weeping Woods has been submerged. I would expect players to start finding more of them once more of the map comes up from the water!