It is a dwarf plant, having either subterranean or very small stems, long thin leaves and yellow, or dark violet to purplish blue flowers.

[3][4][5] It has linear basal (growing from the base) leaves,[2][4][6] which are not pointed at the ends (or obtuse).

[7][8][9] The pedicel (or dwarf stem) has 2 narrow, lanceolate (or oblong-lanceolate,[6]) and (scarious) membranous spathes or bracts (leaves of the flower bud).

[2][4][5] The flowers are 3.5–5 cm (1–2 in) in diameter, come in yellow,[2][4][7] or dark violet to purplish blue shades.

[10] The falls are obovate (in shape),[4] with markings or veins around a central yellowish or whitish beard.

[2][4] It has a 2.8 cm long and 6mm wide style branch, which has a flat crest and toothed edges.

[2] Inside the capsule are seeds which are 3 mm (in diameter), flattened globular, or pyriform (pear shaped), wrinkled, and reddish brown in colour.

[13] As most irises are diploid, having two sets of chromosomes, this can be used to identify hybrids and classification of groupings.

[8][15][16] It is written as 卷鞘鸢尾 in Chinese script,[4] and known as juan qiào yuān wěi in Pinyin in China.

[4][14][16] The Latin specific epithet potaninii refers to Grigory Potanin (a Russian ethnographer and natural historian).

[14] It is found in the Russian Federation,[4] within Siberia,[6][19] in the states of Aga Buryat, Buryatia, Chita (including Dahuria (or Transbaikal),[18]) and Gorno-Altai.

[2][3][5] It grows on the rocky, gravelly or stony slopes, on dry hillsides, of mountains.

One colony of the iris is protected within Daursky Nature Reserve (in Chita Oblast, Russia).

[15] Iris potaninii has been used in traditional Mongolian herbal medicine, in the treatment of various diseases, including bacterial infections, cancers and inflammations.

Also, some benzoquinones have been isolated from Iris species rhizomes, and used as anti-cancer agents in modern Chinese medicines.