That has happened to me on new succulent purchases as well. Make sure not to over water and wait for new growth out of the center. Bottom leaves will eventually fall off and new growth from the middle will take over. Keep it in strong direct sunlight if possible (avoid late afternoon intense heat) and only water when soil is very dry. Bottom leaves will almost start to slightly wrinkle when its past due for a drink. Always better to underwater than to over water these guys as chance of rot is always high. What kind of a mix is this potted in?

That's a fungus which helps break down wood mulch. It shouldn't bother your succulents; it doesn't bother other types of plants. What was the "succulent type soil"? Does the planter drain well?

Agreed, that soil doesn't look at all like you describe; why do you feel it's fast draining? Is the soil/rootball hard to the touch? (Sorry, but I think I see peat & maybe vermiculite &/or sand, none of which are good for succulents. I see no perlite at all.) When you water, does the water just pool on the top? Also agree the aerial roots are normal, nothing to be concerned about.

Thanks everyone! I agree, it appears to be an oddly shaped fungus. This is indoors and the pot has been on my windowsill which is also next to the air conditioner. I use Miracle Gro Cactus and Succulent soil. I couldn’t take it and decided to yank it out. I checked the soil and it’s relatively dry. I try to let the soil dry out before watering. It’s somewhat perplexing as I didn’t think the conditions would be suitable for fungi but I guess I’m wrong. Appreciate everyone’s help. :)