The Colorado butterfly plant is a 2-3 foot tall plant with reddish, fuzzy stems and flowers that turn from white to red with age. Only a few flowers open at a time starting at the lower parts of the stem and working their way up. The fruits of the butterfly plant are hard and nut-like in appearance.

There are only fourteen known populations of the Colorado butterfly plant located mostly in riparian areas on private land within a small area at the junction of Wyoming, Nebraska, and Colorado. Non-selective herbicide spraying, haying and mowing at certain times of year, some water development, land conversion for cultivation, competition from exotic plants, and loss of habitat to urban growth are the main threats to the plant. The low numbers and limited distribution of this herbaceous plant contribute to its vulnerability to natural and human-caused disturbances and environmental stresses. The Colorado butterfly plant is currently listed as threatened under the Endangered Species Act.