Peridot is named for the mineral peridot, found in basalt flows nearby. Small quantities of amethyst, peridot, and black opal are also produced. Olivine gemstones are called peridot and chrysolite. Peridot is the gemstone variety of forsterite olivine. Gold Mine Emerald, Gold Mine Jade, and Gold Mine Peridot. This shade of lime with lemon undertones represents the color of the peridot gemstone. Meanwhile, Steven, Amethyst and Pearl overpower Peridot (Shelby Rabara) and take control of the ship. The word "peridotite" comes from the gemstone peridot, which consists of pale green olivine. Peridot is sometimes mistaken for emeralds and other green gems. The island contains three masses of peridotite, which are rich in the gemstone peridot (olivine). Peridot is the birthstone for those born in August. When cut and polished, the meteorite showed beautiful yellowish olivine (peridot) crystals. It consists of centimeter-sized olivine crystals of peridot quality in an iron-nickel matrix. Peridot crystals have been collected from some pallasite meteorites. Study of Chinese peridot gem samples determined the specific gravity hydro-statically to be 3.36.