This study was conducted with the goal of characterizing a specific group of polychrome stuccoed ceramic shards from the Maquixco Bajo archaeological site at Teotihuacan. Analysis included pigment identification, stucco identification, characterization of the ceramic surface preparation, as well as further investigation into binders and the technology of application. The layered structure of the stucco decoration is described. Analytical techniques used included scanning electron microscopy (SEM), x-ray powder diffraction (XRD), Fourier-transform infrared spectroscopy (FTIR), microchemical testing, and polarized light microscopy. Results indicate that red and yellow pigments are primarily iron oxides, blue and green pigments are mixtures of azurite and malachite with chrysocolla, and most black pigments contain charcoal black. Ground layers are made up of calcite or clay, as well as mixtures of the two materials. Calcite is proposed as a binder.