The previous name for this anemone was the Ritteri Anemone, updated to Heteractis magnifica, or "Magnificent Sea Anemone". Perhaps so because it's too beautiful for the first dull name. The anemone can entirely retract it's tentacles. It's column, here in purple color, will then be exposed. On the matter of reproducing this anemone can do it both sexually and asexually—it can actually clone itself.

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Magnificent Sea Anemone

Many nudibranchs use their brightly colored bodies to warn potential predators that they are full of distasteful chemicals. This is an alternative defence mechanism to having a hard shell, which most other molluscs use as primary protection.