A hair matrix tumor showing an unusual tumor cell arrangement was found at the base of a solitary trichoepithelioma. Coexisting with solid epithelial islands and immature hair follicle‐like structures, areas of alternating epithelial cords and hand‐like stroma resembling the Verocay bodies of neurilemmoma or “ripplemarks” on waves were found. In other areas myxomatous degeneration of the stroma changed the rippling into a cribriform pattern. In some parts of the tumor there was a dense melanin pigment associated with MEL5 stained melanocytes. S‐100 and GDI (OKT6) antigen stains demonstrated Langerhans cells scattered in the parenchyma and less frequently in the stroma. The majority of tumor cells were considered immature pilar cortical cells because of the following: 1. HKN‐6 was strongly positive; 2. a large number of melanocytes were associated with tumor cells in some foci; 3. ultrastructurally immature tumor cells, which had electron‐dense tonofilaments and many desmosomes, were transformed without production of trichohyalin granules into semikeratinized cells which showed nuclear degeneration and loss of electron density in tonofilaments. This tumor, however, has not attained the degree of differentiation observed in trichoblastoma (1) another example of an immature cortical cell tumor. Squamous eddy‐like or horn pearl‐like foci of incomplete keratinization and large keratin‐filled cysts were also present within the immature parenchyma, indicating that some immature cells were differentiating toward non‐cortical cells, as found in the outer sheath. We would like to designate this tumor “rippled pattern trichom