Basics
The "World Book Encyclopedia" states that fungi and molds have no chlorophyll, which is what allows plants to make food. Instead molds live off of food from plants, animals and decaying matter.
Growth
Mold grows from spores that land on a hospitable surface. The "Gale Encyclopedia of Science" defines spores as "packets that contain the genetic material necessary for the formation of a new mold." Unrefrigerated bread provides the perfect moist environment for these spores to flourish. On it they swell and grow, eventually forming fruiting bodies with spore cases that will release thousands of new spores when broken open.
Moldy Foods
According to the "World Book Encyclopedia," black bread mold and blue molds both grow on bread. Usually moldy foods should be thrown away. While moldy bread is not poisonous it is spoiled and should not be consumed, according to "Gale Encyclopedia of Science."