Violacein is a versatile pigment from a bacterium Chromobacterium violaceum that exhibits several biological activities and, at present, has gained increasing importance in industrial markets, such as in medicine, cosmetics, and textiles. In this mini-review, we aimed to describe violacein production and to explore its various biological properties in a pharmacological context, including its antioxidant, immunomodulatory, antitumoral, and antiparasitic activities. In addition, its use in the fields of cosmetics, textiles, food, toys, and insecticides has emerged as unusual potential areas of application to be discussed here.