Nelumbo nucifera flower extract is extracted from the flowers of the Indian lotus, one of the species usually referred to as "water lily".
It is used in skincare as an antioxidant ingredient containing various phytochemicals, mainly flavonoids. There is not much known about the effects of lotus flowers on the skin (more is known about the seeds), but the whole plant is edible and has been used in various traditional medicines.
Science
1
Paudel, K. R., & Panth, N. (2015). Phytochemical Profile and Biological Activity of Nelumbo nucifera. Evidence-Based Complementary and Alternative Medicine, 2015, 1–16.