Iddingsite is a microcrystalline rock that is derived from alteration of olivine. It is usually studied as a mineral, and consists of a mixture of remnant olivine, clay minerals, iron oxides, and ferrihydrites. Debates over iddingsite's non-definite crystal structure caused it to be de-listed as an official mineral by the IMA; thus, it is properly referred to as a rock.
Iddingsite forms from the weathering of basalt in the presence of liquid water and can be described as a phenocryst, i.e. it has macroscopically visible crystals in a fine-grained groundmass of a porphyritic rock. It is a pseudomorph that has a composition that is constantly transforming from the original olivine, passing through many stages of structural and chemical change to create a fully altered iddingsite.