[1] Records of H. punicea from North America (where it is called scarlet waxy cap and occurs in woodland),[3] East Asia, and Australia require further research to see if they represent the same species.

The cap surface is smooth, greasy to viscid, dull dark red to crimson becoming pale yellow to buff in places when dry.

The stipe (stem) is smooth but fibrillose and streaky, yellow to orange-red, whitish towards base, lacking a ring.

[6] Hygrocybe punicea is typical of waxcap grasslands, a declining habitat due to changing agricultural practices.

[1] Hygrocybe punicea also appears on the official or provisional national red lists of threatened fungi in several European countries, including Bulgaria,[7] Croatia,[7] Czech Republic,[7] Denmark,[8] Estonia,[7] Germany,[9] and Sweden.