Polysaccharides　from　Tremella　spp.　are　known　to　have　various　functions　and　applications.　To　fully　understand　the　polysaccharide　compositions　of　fruiting　body　of　T.　fuciformis,　cold　water　extract　(CWE),　hot　water　extract　(HWE),　dilute　alkaline　extract　(ALE),　and　dilute　acid　extract　(ACE)　were　sequentially　prepared　and　characterized.　Their　physicochemical　properties,　chemical　composition,　micromorphology,　and　functional　properties　were　deter-mined.　Firstly,　the　four　extracts　showed　significant　difference　in　chemical　compositions.　Secondly,　in　the　structural　aspect,　liquid　chromatographic　elution　curves　of　the　extracts　had　only　one　main　peak　except　that　CWE　had　two　peaks.　Fucose,　galactose　(or　glucose),　xylose,　and　mannose　were　detected　in　CWE　and　HWE.　Differently,　ALE　had　fucose,　glucose,　and　xylose,　and　ACE　had　only　galactose　and　glucose,　which　agreed　with　the　information　obtained　from　Fourier　transform　infrared　spectra.　Thirdly,　in　the　physicochemical　and　nutritional　aspects,　the　thermal　stability　of　the　four　extracts　decreased　in　the　order　of:　ACE＞HWE　approximate　to　ALE＞CWE.　HWE　and　ALE　had　similar　dynamic　viscoelasticity,　exhibiting　viscous　characteristics　at　low　frequencies　and　elastic　characteristics　at　higher　vibration　frequencies.　The　four　extracts　were　digestive-resistant　after　in　vitro　mimic　experiments.　This　study　could　provide　some　theoretical　data　support　for　the　scientific　research　and　its　application　in　food,　medicine,　and　cosmetics　of　tremella　polysaccharides.