The genus name Helichrysum, is derived from the Greek word helios meaning ‘sun’ and chrysos meaning ‘gold’, referring to the usually bright yellow flowers of plants in the genus. The specific epithet pedunculatum means ‘with a peduncle’ or ‘possessing a peduncle’, which refers to the long peduncle-like stem. 

The genus Helichrysum belongs to one of the largest and best known families, Asteraceae, the daisy family, that contains about 1 530 genera worldwide and 22 800 species. About 240 species of Helichrysum are indigenous to South Africa. Closely related species to Helichrysum pedunculatum are H. nudifolium and H. longifolium, which can be distinguished by their leaves and the colour of their flowers. Many species of Helichrysum are used as traditional medicine and cultivated in gardens in South Africa and are known for their colourful flowers, often attractive foliage and interesting variety of forms.