In Shakespeare’s Mediterranean comedy Twelfth Night, Feste, Olivia’s jester, continually describes ambivalence in terms of imported iridescent material, describing Orsino’s mind as an opal and iridescent silk, referencing the multi-coloured Peruvian gemstone that flashes between turquoise and orange: ‘Now, the melancholy god protect thee; and the tailor make thy doublet of changeable taffeta, for thy mind is a very opal’ (ii .vi.80). Valerie Traub has recently suggested that ambivalence may be a productive and uniquely early modern way of thinking through issues of race and gender. This chapter argues that the language of iridescence, coupled with the play’s multicultural setting, allows Shakespeare to explore not only what an ambivalent mind might look like, but also to champion and embrace ambivalence of identity, including foreignness, gender, and sexuality.