Question
do dragontrees flower if so what is the color?

Answer
Patrick,

Several different plants are called Dragon Trees. I assume you mean draceana marginata?  You can see a picture of this plant at the following website:

http://www.plantoftheweek.org/week215.shtml

No this plant very rarely blooms and not until it is very old. Let me know if this is not the plant you mean.

Darlene