That is walking iris, Neomarica gracilis (not an orchid). I have had one for years, and individual blooms do last only a day, but on a large, healthy plant, there can be flowers continuously for a while. The best part is the fragrance, reminiscent of sweet grape.
It is called walking iris as the flower stems, after blooming, grow baby plants (keikis!). The weight of the plantlet bends the stem, where if grown in the ground they will root. If grown in a pot, the babys can be collected and rooted in water.
jeanne
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