Calculations from Varuna's light curve indicate that it is a Jacobi ellipsoid, having an elongated shape due to its rapid rotation. Varuna's surface is moderately red in color due to the presence of complex organic compounds on its surface. Water ice is also present on its surface, and is thought to have been exposed by past collisions which may have also caused Varuna's rapid rotation. Although no natural satellites have been found or directly imaged around Varuna, analysis of variations in its light curve in 2019 suggests the presence of a possible satellite orbiting closely around Varuna.