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Molds are a group of fungi called  Hyphomycetes , which are chracterized with having filamentous hyphae, and producing airborne spores or conidia (asexual propagules). In nature, molds are decomposers to recycle nature's organic wastes. In medicine, they are the producers of antibiotics. Fungi are a glomeration of organisms in a separate taxanomic kingdom, in which they differ from Monera (Bacteria), Protista (single-cell eucaryotes mostly), Plants and Animals.
Yeast vs Fungus. Fungus belongs to the fungi kingdom. Yeast, which is somewhat related to a mushroom, is unicellular fungi. Fungus is made up of hyphae. These are long tubes that form branches and cover many areas. In the fungus kingdom, there are over 80,000 known species.