No, not a fungia (hmm...I guess the outer 'texture' of this coral is being mistaken for tentacles). The actual tentacles extend from where the pink and green meet and aren't visible.
I'll go ahead and reveal what it is and pass the baton to BIGourami who has attempted to guess it the most:
lobophyllia! ('lobed brain' coral)
BIGourami, your turn!