Varalakshmi Puja day is one of the significant days to worship the goddess of wealth and prosperity. Varalakshmi, who is the consort of Lord Vishnu, is one of the forms of Goddess Mahalakshmi. Varalakshmi was incarnated from the milky ocean, popularly known as Kshir Sagar. She is described as having the complexion of milky ocean and adorns similar color clothes.
It is believed that the Varalakshmi form of the goddess bestows boons and fulfills all desires of her devotees. Hence this form of the goddess is known as Vara + Lakshmi i.e. Goddess Lakshmi who bestows boons.