It's a Louisiana type of Iris. They like moisture. Louisiana Iris Care – How To Grow The Louisiana Iris Plant (diys.com) Your plant may be " Red Velvet Elvis' though there are other red cultivars .

OMG, Red Velvet Elvis!! I love it even better now! Thank you, Carol!

uhmmm.. you know you can make your own bog.. by simply 'planting' or sinking the pot in the ground....

i suspect .... that it wont thrive in the ground... since your friend also gave you the pot... unless your ground is a natural bog...

key word there.. thrive...

ken

Thanks, Ken. I'll defintely keep it in its bowl. There are a number of low places in my very uneven lawn where I might be able to dig out enough dirt to sink it. I'll add that to my unending list of things to do! In the meantime, I have it kind of hidden behind some bushes, so the black plastic isn't too visible.

As long as your soil does not dry out excessively, Louisiana iris can grow in a regular garden planting bed in regular garden soil.. It does not require a bog to thrive.