Paeonia Suffruticosa Kinkaku (Tree peony) Despite their common name, they are deciduous sub-shrubs. Paeonia lactiflora are herbaceous perennials, but Paeonia suffruticosa sticks around for the winter, being a woody plant. Both are remarkably long-lived. One year, Paeonia suffruticosa 'Red' bloomed the first week in May in my yard, while Paeonia suffruticosa 'Kinkaku' bloomed the last week in May, giving me color all month. - David Beaulieu