This is Illamasqua Raindrops. It's a light grey jelly polish with small, almost transparent flakies. This picture is three coats of Raindrops, with Seche Vite fast drying top coat. I think this polish could look good with just one coat layered over a different colour, maybe a lighter grey or possibly a blue or green to give it a different colour shift.
I found the polish quite smooth and easy to apply.