What can I say it's a giant glowing magic fantasy mushroom. I was going to recreate a Blender version of an image I did a few years ago using Terragen 2 but got diverted by the mechanics of texturing and lost interest in the project.
the model is nothing special, medium/high polygon count gives a good result right away. If you're desperate for smoothness you can always add a sub surf modifier. the real trick here is in the texturing. multiple materials, multiple uv maps, nodes to do the blending and all the textures are simple, basic projections and tileable if desired.
Share and Enjoy. and if you use it credit Mr_Lamppost