The name Toberaruddery is an anglicisation of the Irish "Tobar an Ridire", meaning "Well of the Knight", though no record survives to explain which knight was meant, or why this particular water source at the base of a steep south-east-facing slope in County Tipperary came to carry such a title. It feeds into a small stream that runs eventually into the River Tar, though the well itself shows no rising bubbles that would indicate a true spring; the flow may simply be run-off draining down from the hill above.

The well is stone-lined and extends at least six metres back from the stream bank, with a width of roughly two to two and a half metres and a shallow depth of around ten centimetres. A stone revetment, meaning a retaining wall of stone built to stabilise the bank, runs along the north-west side of the stream. At the mouth of the well, stones have collapsed inward, including a long flat slab that has been displaced from its original position. When inspected, the structure was heavily overgrown with brambles, which made a full examination difficult. The opposite bank of the stream is badly poached by cattle, that is, churned and softened by repeated animal hooffall. Unlike many named wells in rural Ireland, this one carries no tradition of religious veneration and does not appear to have functioned as a holy well. Its date of construction is unknown.