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Chameleon plant grows best in moist, humusy soil and full sun or part shade. (But note the brightly variegated leaves develop better color when grown in full sun.) It readily tolerates 2 or more inches of standing water, which makes it a great plant for growing along a stream or pond, or in a water garden.
No matter where you site chameleon plant, it's essential to confine this rampant grower that spreads via rhizomes.