Disclosed is reflective morphable display with multi-layered depth viewing, low power consumption and few components and a method of activating various features thereof. The disclosed display includes a bi-stable reflective cholesteric liquid display crystal (ChLCD) layered in combination with a display device such as an LCD and a quarter lambda (λ/4) retardation film layer. Linearly polarized light emerging from the front surface of a display device is circularly polarized by the λ/4 layer before entering the ChLCD layer. In its reflective state, the ChLCD layer receiving a portion of the ambient light having the same handedness of the ChLCD is reflected in a mirror-like manner. Also in its reflective state, when it receives light that is circularly polarized by the λ/4 retardation film layer, the ChLCD layer acts as a shutter. A display device with depth viewing is provided as the ChLCD layer pixelated so it is configured to display font and/or other indicia.