R&F Handmade Paints Encaustic Paint Cake, 40ml, Iridescent Gold. Encaustic painting, also known as hot wax painting, allows you to use natural materials to create layered, dynamic paintings and mixed media creations. It is popular as an all-natural alternative to oil and acrylic paints. It is a versatile medium as it can be molded, layered, sculpted, textured and combined with collage materials with no drying time required. The color is resistant to moisture and highly durable.