Phyllidia exquisita is a species of sea slug, a dorid nudibranch, a shell-less marine gastropod mollusk in the family Phyllidiidae.

[2] This species was described from Lion Island, Papua New Guinea.

It has also been found in the Maldives, Sri Lanka and Indonesia.

[3] This nudibranch has a grey coloured dorsum with smaller white and larger yellow tubercles in irregular rows separated by black lines.

The rhinophores are yellow and there is a yellow-orange margin at the edge of the mantle across the front of the head and the first quarter of the sides of the body.