While sometimes used in painting, it is unusual. More frequently one sees this pigment used as a varnish for violins. Dragon’s blood is described as a dye that is made from certain kinds of palm trees, though there was some confusion through the ages about its name.
Field wrote of this color, "Is a resin brought from the East Indies. It is of a warm, semi-transparent, but rather dull red colour…in oil it dries very badly indeed. Although it has been recommended as a pigment, dragons' blood does not merit the attention of the artist."
There are a long list of species on Wikipedia for the botanical sources.
