Pileus: 2 - 7 cm broad; convex to planar at first, then campanulate, often with a depression in the centre; margins initially straight and even, then becoming flaring and finally uplifted; surface dry, unpolished, with scales (at times very small) especially on disc; light brown to reddish orange on disc, becoming pinkish orange towards margins; context thin 0.5 - 1.0 cm at junction with stipe, firm, same colour as pileus; taste mild; odour distintive, variously described as earthy, potatoes to radish-like.
Lamellae: Horizontal to hooked (uncinate), at first average then distant and widely spaced, waxy, 1 cm broad, edges crisped to minutely serrate; purplish white when young fading to reddish white to pink when mature, often spotting darker red brown; 1 - 3 lamellulae.
Stipe: 2 - 15 cm long X 0.4 - 1.0 cm wide at apex, 0.4 - 1.5 cm wide at base, equal to tapering upwards, dry, flexuous, tough, fibrous, longitudinally striate; light brown, with stiff lilac bristle-like mycelium at base of stipe; contex solid at first becoming hollow, pale pink to greyish orange, hygrophanous, mottling with ivory to pale pink colours.
Comments: This species is very similar to L. laccata and is differentiated microscopically. L. laccata has larger spores than L. bicolor. L. bicolor often has a lilac-tinted mycelia on the stipe base, but the colour fades with age.
Mueller, G. M. 1992. Systematics of Laccaria (Agaricales) in the continental United States and Canada, with discussions on extralimital taxa and descriptions of extant types. Fieldiana 30: 1-158.
Mueller, G. M. 1991. Laccaria laccata complex in North America and Sweden: Intercollection pairing and morphometric analyses. Mycologia 83: 578.
Mueller, G. M. 1982. The genus Laccaria in North America excluding Mexico. Ph.D. Thesis, University of Tennessee, Knoxville.