This is a bud of my Paphipledilum Pinoccio ready to open. This orchid blooms sequentially: when a flower dies, another one opens in the same stem, then another, and another... (you can see the next bud forming in the right top corner). This is the 11th bud to open in this stem, and each lasts for about a month, so this little plant has been blooming for about a year!
Ian