Nice mushroom!! I recommend cutting the softer outer parts into strips and dipping in Kentucky Kernel Seasoned Flour (look on amazon) then frying in butter / oil on medium heat until golden. You wont believe how good it is.

That's a nice looking specimen - good find! There are two varieties here in MO: the pale version (looks to be what you have here), and the sulpherous version (brighter yellow in color). I've collected the sulpherous version here in MO twice. Be certain of the ID - pretty much it needs to be found on a decaying oak tree (not on the roots, but on the tree proper) in the eastern half of the country. Both times I collected older specimens that were a bit tough/mature. Tasted wonderful though - like a subtle chicken. I sautéed ours in butter/olive oil and added a bit of diced shallot.

Yours looks young and tender. Harvest away! Cook a small sample to try it out and make sure your body can digest it easily and that you like it. The rest of the fungus can be stored for several days in the frig in a plastic bag. If after storing you find parts that are soft, slimy and/or oozing, cut, remove and throw those parts away. If you find you like the taste and it doesn't disagree with your gut, the sky is the limit cuisine-wise.

Post pics of your preparation and give us a report so we know you survived! Here's Missouri lore on the subject. (mdc.mo.gov)