O. ferrum-equinum was first described by Desfontaines from Samos in 1807 and its name refers to the horseshoe shaped speculum pattern. This is a relatively stable characteristic of the species and is usually a retained feature, even in hybrids, though as can be seen from the photographs it can become embelished. The species and consequently hybrids are essentially Greek orchids, although it also occurs in Anatolia and sparingly in neighbouring Albania. It is a member of the large and ever expanding O. mammosa  group of Ophrys.

This species is widespread throughout Greece but can be unaccountably absent from large, seemingly suitable areas. On occasion however it occurs in huge numbers and the authors recall a colony near Lagonisi in Attica that was thousands strong, forming a vast colourful drift along a shallow valley near the coast. The species is highly variable and periodically many of the variations have been recognized as subspecies and even full species. At present however they have all settled into existence as varieties, which given that they all share the same pollinator and are generally found within populations of the nominative type, would seem to be the sensible conclusion. Hybridization is common and intermediate populations are regularly recorded.

O. ferrum-equinum is a straightforward orchid to identify but less easy with its hybrid offspring. The lip will usually be dark red/brown, rounded or rectangular with a downy or often hairy appearance. The margins will generally be flared and as mentioned above, the specular pattern either horseshoe shaped or a reconizable representation.