I suspect the Spanish moss will be way too much texture to depict mold.
Brainstorming here, and nothing tested; I suspect just plain makeup would work and stippling on a few shades of green/black. Though, I can also see motivation for more physical texture to it. Just painted on latex may be sufficient in of itself. Or while the latex is wet add on something for a little texture. It could be the dryer-lint.
I would suggest trying to get the stuff used for texture colored, and any paint dry before you apply them to the actor. That would ease any issues with coloring a texture surface. Or perhaps you can airbrush over any texture.