Mardi Gras Rhododendron is interesting to me in that it is dwarf reaching a height of only 3-4 feet so it is perfect for smaller plantings spots. It's flowers fill the plant with very bright variegation and it's leaves look thicker than most Rhododendron. The underside of Mardi Gras leaves look very dark almost like a Magnolia. As in with all Rhododendron, make sure to plant in a shady area and use soil conditioner when planting as they prefer well drained soil.
Be sure to use a well drained soil medium when planting any Rhododendron as they prefer fall planting with less watering than you might think. In NC our soil is clay so we prefer to use pine bark soil conditioner when planting Camellia, Rhododendron, Mountain Laurel, and Azalea.