Anything which prevents water from penetrating into it or into any surface on which it is laid /coated is waterproof. The term may be used to refer to any object that is designed in such a way so as to prevent water from passing through it; anything that is water resistant. In the context of art, the term generally refers to colors or any other materials that is used in art work that will not decay or get destroyed when exposed to water. Waterproof paintings are popular now-a-days and so are waterproof canvas, colors, panda paints.