Xeromphalina setulipes is a species of fungus of the family Mycenaceae. First collected in 2005, it was described and named in 2010 by Fernando Esteve-Raventós and Gabriel Moreno, and is known only from oak forests in Ciudad Real Province, Spain. The species produces mushrooms with dark reddish-brown caps up to 15 millimetres (0.59 in) across, dark purplish-brown stems up to 45 millimetres (1.8 in) in height and distinctive, arched, brown gills. The mushrooms were found growing directly from the acidic soil of the forest floor, surrounded by plant waste, during November.