Peperomia graveolens is endemic to the highlands of southwest Ecuador where it is found in Azuay, Loja and El Oro provinces growing at elevations of between 2000 and 2500m asl. It was first collected in 1973 and is known from only two sub-populations. Peperomia graveolens is listed as vulnerable on the IUCN Red List, with its fragmented population subjected to ongoing habitat loss. In cultivation however, it is well represented and since its introduction to horticulture, Peperomia graveolens has become a popular and much sought-after houseplant with its unusual red and green colouration giving it a visually arresting ornamental appeal.

The foliage of Peperomia graveolens is extremely fleshy and succulent and - like Peperomia dolabriformis - is shaped like a hollowed canoe with its lower abaxial surfaces folded over. In Peperomia gravelolens however, these abaxial surfaces are - together with the stems - a striking and unique shade of red, a burnished pinkish-purple that is distinctly metallic in appearance. The green adaxial upper surface of its leaves constitute one large light-capturing epidermal window allowing light to reach the photosynthesing chlorenchyma beneath.

Peperomia graveolens requires a fertile but well-drained substrate and a mix with added grit and perlite is ideal. Although it can be kept moist throughout the growing season one must always be on the lookout for any signs of over-watering particularly as light-levels drop throughout the winter months. It needs to be situated indoors in a warm airy aspect that has indirect light.