The species produces fruit bodies characterized by the flat, reddish-brown concentric scales on the caps, and an unpleasant odour resembling burnt rubber.

Lepiota cristata was first described as Agaricus cristatus by the British naturalist James Bolton in his 1788 work An History of Fungusses, Growing about Halifax.

[16] The crowded gills of Lepiota cristata are white to cream, free from attachment to the stipe, and darken/become brownish as the mushroom ages and the spores mature.

[15] With a stipe which is nearly smooth and a pale white-tinged flesh colour, L. cristata also has a transient ring, which is membranous and deciduous.

[4][17] The dorsal spur on the spores of Lepiota cristata gives them a triangular or wedge shape; they measure 7–8.5 by 3–4 μm.

These spores are slightly dextrinoid, meaning they stain deep red to reddish brown with the application of Melzer's reagent.

[18] Lepiota cristata has been described as having a strong, distinctive and unpleasant odour; it has been described as rubbery, fishy, pungent, foul, fungusy, fruity, mealy and sweet.

[13] The lookalike L. saponella, found on the west coast of France, is distinguished from L. cristata by its soapy smell, dingy buff-coloured gills, and smaller scales on the cap surface.

[7] Lepiota cristata is a saprobic species, deriving nutrients through decomposing dead or decayed organic material.

[23] Up until recently, there was a potentially injurious confusion pertaining to the toxicity of L. cristata, as in Great Britain dapperlings were commonly referred to as parasols.