The singer, who was accompanied by her mom on the red carpet, says the elder Cyrus plans to get a matching too.
PEOPLE caught up with the "Flowers" singer, 32, at the Chanel Tribeca Festival Women's Luncheon to celebrate the Through Her Lens program at the Greenwich Hotel Courtyard in New York City on June 6. Miley -- who was joined by her mother, Tish Cyrus -- shared details about her latest tattoo and the meaningful inspiration behind it.
On Monday, N.Y.C.'s Bang Bang Tattoo and artist Michelle Santana shared a photo of Miley's dainty new ink on Instagram. The Something Beautiful artist, who has dozens of tattoos already, added the word "muse" to her shoulder. Cyrus tells PEOPLE her latest tattoo is a tribute to her mother.
"It says 'muse,'" Miley says of her latest tattoo. "And it's really for her, because my mom is my muse."
She adds that her "mom was going to get matching with me, but she was out of town."
Miley's latest tattoo comes just days after she spoke about regretting some of her ink during an interview with the New York Times. "A mistake that I made that I still think about is like 80% of my tattoos," she told the outlet.
She continued, "I don't regret them enough to laser them, but some of them, like... I mean I love my cat, but like, I didn't need that ... there's just a few I could do without."
In May, Miley shared a statement squashing rumors of a feud with her mom after Tish, 58, after she appeared to unfollow the singer. Tish also addressed the unfollowing, saying she had "no idea how that happened" and the problem was "fixed."
"I rarely comment on rumors, but my mama and I are too tight for anything to ever come between us," Miley wrote in a statement shared on her Instagram Stories. "She's my best friend. Like a lot of moms, she doesn't know how to work her phone and somehow unfollowed me -- simple, coincidental, and uninteresting."
She went on to add a message of thanks for her family's good health, writing, "Now, in my thirties, family is my priority above all else. I'm at peace knowing bridges have been built and time has done a lot of healing. Grateful for the good health and love that flows through my family."
In March, Miley announced her visual album "Something Beautiful" was forthcoming. The project, which takes viewers through various periods in Cyrus's life, is making its world premiere at the Tribeca Film Festival this month.
Asked if she sees her life as eras, she told PEOPLE,"I don't see anything, I feel like, with a divide. I do love this flow of whatever is real in the moment totally is valuable and exists and that's what the movie is a celebration of is that everything gets to coexist in not a way that's lost but actually found."