This is the dwarf form of Masdevallia coccinea, about half to two thirds the size of the ordinary form. The species is from high altitudes in the Peruvian Andes and requires cool to cold temperatures with good humidity and air movement. Mine seems to bloom best when it is given quite high light, high enough to turn the leaves a bit yellowish and seems to like it just a bit wetter than some of the other Masdevallia species. I grow it in live sphagnum in a plastic pot, but not a net pot. When happy it blooms profusely.
If anyone wonders about the colors, the flowers open a dark pink and gradually fade to a very pale pink, at least under my conditions.