Phalaris arundinacea, more commonly known as Reed Canary Grass, is a tall-growing bunchgrass. It's often found beside rivers, streams, ponds and wetlands in its native habitat.One of the most common cultivars of this species is Ribbon Grass (Phalaris arundinacea var. picta). This is an ornamental grass variety with eye-catching variegated foliage that can work well as a tall, textured and interesting ground cover.Although Ribbon Grass can occasionally flower, it's the foliage that makes this plant. The blooms aren't of any great significance. This cool-season grass grows in the spring and fall but can go dormant during the summer months.