Hi DK, It is a Tabebuia cultivar in the family Bignoniaceae. They are a common street tree in the tropics, grow enormous and get completely covered in hot pink flowers. As for bonsai I have never tried. They have sparse internodes and large compount palmately disected leaves. They come up from root suckers in my lawn from a tree 30 m away on the footpath. Have fun
cheers
Ash
you have to like sweeping leaves, they flower on bare twigs. but you're right they are lovely. the colours vary from pale pink to the one in the park opposite me, which i think of as my "sakura (not)" as its colour is that of a japanese cherry. usually we have flowers everywhere on my son's birthday (min June) but this year there are still lots of leaves and just a few buds swelling. in another fortnight the many streets in Townsville with this as a border planting will look gorgeous. once established they seem to deal with wet summers and dry the rest of the year