The size of G. bicolor plants is quite variable, but a leaf length of 6 to 8 inches (15-20 cm) at maturity is typical. Small forms, including G. bicolor var. liliputana may be as short as an inch or less (2½ cm), while the largest forms may have leaves over a foot in length (30 cm). Most species of Gasteria are stemless, or nearly so, but plants of G. bicolor usually develop a distinct stem in time.
Gasteria bicolor is primarily a spring-flowering species, though it may begin in the latter part of the winter. The flower stalk may lack branches, but typically it has a few, and robust plants may have up to eight. The dangling pot-bellied flowers arrayed along the flowering stems resemble those of other species in the genus, but are on the short side at ½ to ¾ of an inch (12 to 20 mm). They are light pink at the swollen base, fading to white in the middle and with green striping toward the tip.