Acrylic paint is the fast-drying paint. It is a water soluble paint but turns water resistant when becomes dry. Based on the amount of water diluted in the paint, or modified with acrylic gels, media, or pastes, it can be a watercolor or an oil painting, or have its own unique characteristics. Acrylic paint is used to modify or change the appearance, hardness, flexibility, texture, and other characteristics of the surface of the paint.
Here is an interesting tutorials on how to mix or create an acrylic colors as well learn how to draw painting using the acrylic paint.