What is the meaning of Cochineal?

A scale insect of the species Dactylopius coccus, native to the tropical and subtropical Americas, which lives on prickly pear cacti (genus Opuntia).

A vivid red dye made from the dried bodies of cochineal insects.

The vivid red colour of this dye.

Possessing a vivid red colour, as or as if produced from dyeing with cochineal dye (noun sense 2).

Source: wiktionary.org