The chaplet is comprised of ten black beads, with a Crucifix and Marian medal.
(But I have seen them made in other colors as well. I can't find anything that prohibits another color.)

The Chaplet of the Ten Virtues of the Blessed Virgin Mary has been passed on by tradition of the Marian Order and is contained in their Rule.

First, make the sign of the Cross and recite one Our Father followed by ten Hail Mary's or Ave's. After the words "Holy Mary, Mother of God...":, insert one virtue for each of the 10 Ave's, in the following order: (I've included the Scripture references for each virtue.)

1. Most pure, (Mt 1:18, 20, 23; Lk 1:27,34)
2. Most prudent, (Lk 2:19, 51)
3. Most humble, (Lk 1:48)
4. Most faithful, (Lk 1:45; Jn 2:5)
5. Most devout, (Lk 1:46-7; Acts 1:14)
6. Most obedient, (Lk 1:38; 2:21-2, 27)
7. Most poor, (Lk 2:7)
8. Most patient, (Jn 19:25)
9. Most merciful, (Lk 1:39, 56)
10. Most sorrowful, (Lk 2:35)

and continue with: ". . . pray for us sinners now and at the hour of our death. Amen."

(So, it would be: Hail Mary, full of grace, the Lord is with thee, blessed art thou among women and blessed is the Fruit of they womb, Jesus. Holy Mary, Mother of God, MOST PURE, pray for us sinners now and at the hour of our death. Amen.) ... then simply continue with each of the 10 Ave's with the next VIRTUE in the same place.

V. Glory to the Father and to the Son and to the Holy Spirit.
R. As it was in the beginning, is now and will be forever. Amen.
V. In Your Conception, O Virgin Mary, You were Immaculate.
R. Pray for us to the Father whose son, Jesus, you brought forth into the world.

Let us pray.
Father, You prepared the virgin Mary to be the worthy mother of Your Son. You let her share beforehand in the salvation Christ would bring by His death, and kept her sinless from the first moment of her conception. Help us by her prayers to live in Your Presence without sin. We ask this in the Name of Jesus the Lord. R. Amen.

V. The Virgin Mary's Immaculate Conception
R. Be our Health and our Protection.

More info:

Warning: There is another "Chaplet of Virtues" that has been widely circulated on the net (contains 7 groups of 3 beads, divided by separator beads); this chaplet is based on an false apparition that has been not only discredited, but also apparently plagiarized on the works of Mary of Agreda.

The decima Chaplet of Virtues above has been a Marian tradition for over 200 years, and is approved by the Church.