There are over 200 species of Psilocybe mushrooms, each possessing visually unique characteristics along with varying levels and ratios of three psychotropic compounds — psilocybin, psilocin, and baeocystin. A few of the most prevalent species are P. azurescens, P. cyanescens, P. semilanceata, and P. cubensis (which is the most widely known and easily cultivated).

There are also hundreds of “strains” or “subspecies” which have been genetically isolated and classified by both professional mycologists and recreational enthusiasts. While taxonomically these strains are all considered members of their respective species (and most are P. cubensis), they too can differ drastically in appearance, conditions required for cultivation, and potency.