Nice. That's a Kribensis (Pelvicachromis pulcher). Also called the Purple cichlid, Rainbow krib, or just 'krib'. Cool little (4") cichlid from West Africa.
It sounds like they are really easy to breed. I think I will be getting some for my brackish tank so they have a variety of food (molly and cichlid fry, and maybe even killie fry)