In Japan this mushroom is called waraitake, which translates to "laughing mushroom". This mushroom is often mistaken for Gymnopilus ventricosus, which contains no psilocybin.
The cap ranges from 3 to 8 cm across, is convex, and is reddish orange or reddish brown with a dry scaly surface. The cap margin is inrolled well into maturity. The flesh is yellow and the gills are crowded, yellow to orange, and adnate to subdecurrent. The stem is dusted with rusty orange spores and has a cottony partial veil, and often narrows near the base. Most people find this mushroom to have a bitter taste.