Labradorite is a plagioclase feldspar whose appeal has nothing to do with its body colour, which is an unremarkable grey to grey-brown. What it has instead is labradorescence: a broad flash of blue, green, gold or occasionally violet that appears when the stone is held at one particular angle and vanishes at every other.
The effect is structural rather than chemical. The mineral separated internally into alternating microscopic lamellae as it cooled, and light interfering between those layers produces the colour, in the same way an oil film on water does. That is a useful fact for identification, because a structural colour behaves in a way no dye or coating can imitate: it must switch off when you tilt the stone.
That single behaviour is nearly the whole identification. Everything else — hardness 6 to 6.5, two cleavage directions meeting at close to ninety degrees, a specific gravity around 2.70 — is standard feldspar and shared with a dozen relatives.