Verhoeff's stain utilizes a combination of hematoxylin, ferric chloride, and iodine. Hematoxylin acts as the primary stain, while ferric chloride and iodine serve as mordants that help in binding the stain to the tissue fibers. The stain works by forming a complex with elastic fibers, turning them black. Non-elastic fibers are usually counterstained with a different dye, such as Van Gieson's stain, which imparts a red color to collagen fibers and a yellow color to other tissue elements.