Rosellin A and B, two red diketopiperazine alkaloids with unprecedented structures, have been isolated from the fruiting bodies of the mushroom Mycena rosella. The structures of the rosellins were mainly deduced from their 2D NMR and HRMS (ESI) spectra. Their absolute configuration was determined by comparison of the CD spectra of the rosellins with the corresponding CD spectra obtained by quantum chemical calculations. Root exposure to rosellin A led to bleaching of the leaves of Lepidium sativum plants.