This member of the Amaryllidaceae family was given this name by Johan Van Scheepen in 1997. It is found in the rainforest of southern Brazil, growing in a rich soil and as an epiphyte with lots water and some sun. The bulb can grow to five centimetres in diameter, the entire plant to 30 centimetres in height, 50 with the flower. The flowers are greenish yellow with purplish-brown nerves.
The name Hippeastrum is a combination of the Greek word hippeus 'horse' and astron 'star', which means 'horseman's star' or 'knight's star', as the flowers have a star-like shape. The species name referring to the butterfly-like flowers.

