My disc is stuck high in a tree. Is that a penalty?

Only if the two-meter rule is in effect. It applies only when the director declares it, for the whole course, particular holes or particular objects (rule 805.02).

When it is in effect and your disc comes to rest at least 2 meters above the in-bounds playing surface (measured from the lowest point of the disc):

• You receive 1 penalty throw.
• Your lie is on the playing surface directly below the disc. You may then move back on the line of play with no extra penalty.
• A disc held up by the target of the hole you're playing is exempt.
• If you move the disc before the group decides, it counts as above 2 meters.

When the rule isn't in effect, there's no penalty: your lie is directly below the disc.