Iolite has different colors in different directions in the crystal. A cube cut from iolite will look a violetish blue almost like sapphire from one side, clear as water from the other, and a honey yellow from the top. This property led some people to call iolite "water sapphire" in the past, a name that is now obsolete

Pleochroism may have been helpful in navigation but it makes things difficult for a gem cutter. If iolite is not cut from exactly the right direction, no matter the shape of the rough, its color will not show to its best advantage.