It cannot be fully examined, yet what is visible is enough to identify it as a bullaun stone, a type of ancient carved rock featuring one or more deliberately hollowed depressions. Bullauns are found at early Christian and pre-Christian sites across Ireland, and their precise original function remains debated; they have been associated with ritual use, water collection, and folk cures, among other purposes.

This particular stone is roughly oblong, measuring at least a metre in length and around 0.7 metres wide, though only about 0.3 metres of its height is visible above the ground surface. Carved into its upper face is a single oblong depression, approximately 0.56 metres long and 0.3 metres wide, with notably vertical sides dropping to a depth of around 0.2 metres. Its position in the south-western part of the graveyard, close to a gap or entrance in the wall of a rectangular grave enclosure, suggests it occupies a liminal spot, placed at or near a threshold between spaces. The south-western section of Moygawnagh graveyard is understood to be its oldest portion, which points to this stone having considerable age, though the encroaching overgrowth and partial burial make closer assessment difficult.