Probably not a fungus. You may be describing an advanced case of ich, lymphocystis or even possibly a bacterial infection. Please give details about any possible symptoms and a better description of the lesions.
Ich can look a little cottony and raised. That is caused by excess mucus production in reaction to the parasite. The spots are round and it looks like it is probably ich. Are there other fish in the tank? Fish will continue to eat and act normally with ich for a while. You may see it scratch sometimes.
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