<p>Among plant secondary metabolic compounds, compounds that absorb wavelengths within the human visible range (450–700&#xa0;nm) to produce red to blue colors are classified as pigment compounds. They have crucial ecological functions, such as attracting pollinators and avoiding herbivores. Beyond their ecological roles, they are often extracted and isolated for use in various products owing to their attractive colors. In recent years, natural pigments have garnered increasing attention as alternatives to synthetic colorants, driven by growing consumer awareness of the health and environmental benefits of natural products. Among the plant-derived pigments, flavonoid pigments offer both color varieties and notable bioactive properties. Flavonoid pigments are subdivided into anthocyanin- and quinone-type pigments. The anthocyanin-type pigments include anthocyanins and anthocyanidins. Conversely, quinone-type pigments are characterized by the presence of benzoquinone or quinone methide moieties, wherein certain hydroxyl groups of flavonoids are quinonized. To exploit their potential in diverse applications, a comprehensive understanding of their structures, physical properties, and the mechanisms underlying their color change is essential. This review provides a comprehensive overview on the recent progress in the exploration of new flavonoid pigment compounds and their applications in various fields. This is expected to promote the discovery of new flavonoid pigments and their applications.</p>