Haageocereus versicolor grows as a shrub with upright or spreading shoots that branch from the base and form groups.

The one or two central spines pointing upwards or downwards are yellow to brownish and 1 to 4 cm (0.39 to 1.57 in) long.

[2] Haageocereus versicolor is widespread in Peru in the Piura, Lambayeque and Tumbes regions at altitudes of up to 1500 meters.

The first description as Cereus versicolor was made in 1931 by Erich Werdermann and Curt Backeberg.

The specific epithet is derived from the Latin word versicolor for 'colorful' and refers to the differently colored thorns.