The Pyaung-Gaung area in the Mogok township of Myanmar is one of the essential sources of high-quality peridot for the international gem trade. Pyaung-Gaung peridot possesses an attractive deep olive green color and can be found in large sizes (>10 ct) in the market. It has long been mined from ultramafic rocks, largely dunite, at a primary deposit near Bernard-Myo. Internal features consist mainly of circular decrepitation halos (“lily pads”), fluid inclusions, and fiber tufts. Common mineral inclusions are dark biotite-phlogopite and chromite, sometimes coexisting with serpentine, magnesite, chlorite, and talc. Pyaung-Gaung peridot also contains olivine inclusions not previously found in peridot from other locations. 2D and 3D cross-plots of the trace element contents of Cr, V, Co, Sc, Ni, and Ti provide helpful separations among Burmese, Chinese, and Pakistani localities.