The garland in the dust: Durvasa, Indra and the three worlds going grey
Durvasa gives Indra a garland that carries Shri's presence; Indra hangs it on his elephant, the elephant throws it down, and the sage's curse strips the three worlds of her. Only the churning of the ocean brings her back, and Indra's hymn wins her promise never to leave again.
Durvasa, wandering, takes a fragrant garland of heavenly flowers from a nymph and wears it.
He meets Indra on Airavata among the gods and throws him the garland; Indra hangs it on the elephant's head.
The elephant, excited by the scent, pulls the garland down with its trunk and drops it in the dust.
Durvasa tells Indra his pride has made him careless of a gift that carried Shri; his rule over the three worlds will be thrown down as the garland was.
Indra dismounts and begs; the sage says he is not compassionate by nature and will not forgive; Indra goes home to Amaravati.
The three worlds lose their vigour: plants wither, sacrifice and charity stop, greed spreads, and the Daityas beat the weakened gods.
The gods go to Brahma, who takes them to Vishnu on the northern shore of the sea of milk.
Vishnu tells them to make peace with the asuras and churn the ocean together, with Mandara and Vasuki, promising the asuras a share; he will see that only the gods drink.
The churning yields Surabhi, Varuni, the Parijata, the apsaras, the moon, the poison, Dhanvantari with the cup, and then Shri on a lotus, a lotus in her hand.
The sages hymn her with the Shri Sukta; Ganga and the rivers bathe her; the sky-elephants pour water from golden vases; the ocean gives a garland, Vishvakarma the ornaments; she goes to Vishnu's breast.
The Daityas, whom she turned from, seize the cup; Vishnu as a woman recovers it; the gods drink and win; the order of things returns.
Indra praises Shri as mother of all beings and asks two things: that the three worlds never again be without her, and that she never forsake anyone who recites his hymn; she grants both.
Durvasa takes a garland from a nymph and throws it to Indra, who hangs it on Airavata; the elephant drops it. The sage curses Indra's rule to fall as the garland fell and refuses every apology. The three worlds wither, the asuras win, the gods go to Brahma and then to Vishnu on the northern shore of the sea of milk, who tells them to churn it with the asuras. Surabhi, Varuni, the Parijata, the apsaras, the moon, the poison and Dhanvantari come up, and then Shri on a lotus, a lotus in her hand. Sages sing the Shri Sukta, Ganga and the rivers bathe her, the sky-elephants pour water from golden vases, the ocean gives a garland and Vishvakarma the ornaments; she goes to Vishnu's breast and the Daityas, whom she turned from, rage. After the nectar is won Indra praises her as mother of all beings and asks that the three worlds never again lose her and that she never leave anyone who sings his hymn; she grants both.
Devi Bhagavata Purana IX.40-41: the Parijata flower
Pan-IndiaShakta
Narada asks how the eternal Lakshmi became the ocean's daughter. Vishnu had given Durvasa a Parijata flower; Indra, drunk with wealth, threw the flower the sage blessed him with onto Airavata's head; the elephant grew radiant and ran off into the forest. Durvasa said Indra had cast the flower away out of vanity and that Lakshmi would leave him and return to Narayana. Indra, frightened, begged for knowledge, and Durvasa and then Brihaspati taught him that wealth binds and karma rules. Lakshmi, angry and grieved, left the heavens for Vaikuntha. Indra, Brihaspati and the gods went to Brahma, who rebuked Indra and took them to Narayana. Narayana said Lakshmi had left because the gods' house was displeasing to devotees, named the neglects that drive her away and the worship that keeps her, and told Lakshmi to go to the ocean of milk and be born there in part, and Brahma to churn. With Sumeru for a rod, the tortoise beneath and Ananta for a cord the gods and Daityas churned a long time: Dhanvantari, the nectar, the horse, the jewels, Airavata, and Lakshmi, who rose and garlanded Narayana as he slept on the ocean. Brahma, Shiva and the gods praised her; by her glance the gods got back what the Daityas had taken.
What is different here:
A single flower, not a garland, and Vishnu's gift rather than a nymph's. Lakshmi leaves in anger and goes to Vaikuntha, which the Vishnu Purana never says; she returns only in part. The churning rod is Sumeru and the cord Ananta; no Indra hymn.
Bhagavata Purana 8.5-8.8: the curse named, no garland
Pan-IndiaVaishnava
The Bhagavata says only that the gods had been cursed by Durvasa and that the three worlds were poverty-stricken; it gives no garland and no reason. The gods go to Brahma on Sumeru and then to Vishnu in Svetadvipa; he tells them to make a truce with the asuras while they are not flourishing, as the snake and the mouse do, and to churn with Mandara and Vasuki. When Lakshmi rises (8.8) Indra brings her seat, the rivers water in golden pots, the earth herbs, the cows the five products, the ocean a yellow silk, Varuna a garland with bees, Vishvakarma ornaments, Sarasvati a necklace, Brahma a lotus, the Nagas earrings; the elephants bathe her.
What is different here:
Names the curse without its cause. Indra, who lost her, is the one who brings her seat when she returns.
Sources: The Vishnu Purana, tr. H. H. Wilson (1840), Book I chapters 8-9 (sacred-texts mirror); The Srimad Devi Bhagavatam, tr. Swami Vijnanananda (1921-22), Book IX chapters 40-41 (sacred-texts mirror); Srimad Bhagavatam, canto 8 chapters 5, 6 and 8 (vedabase.io)