Standing tall upon the lotus pedestal, she possesses four arms. The rear two arms are holding a lotus each. The front two hands hold a hemispheric shaped lamp. The finely engraved tall crown has a halo behind. She is richly adorned with fine clothes and ostentatious ornaments; after all, she's the goddess of wealth.
The story of her birth is interesting: when the ocean was churned by the gods and the anti-gods together, she sprang from the waves. She was so beautiful that Vishnu took her to be his wife. The lotus that she holds in her hands are traditionally associated with both Lakshmi and Vishnu.
This description by Kiranjyot.