The emblem of this Contrada was copied from the Benincasa family Coat-of-Arms. This is also the family of Saint Catherine of Siena, the Patron Saint of the Drago.
The dragon as it appears on the Coat-of-Arms is a "distinctly Chinese figure" and it became part of Tuscan heraldry and in particular Sienese heraldry due to an intermediary figure: The Iranian Senmury.
However its origins almost certainly lie in the decorations of Iranian and Muslim materials. In fact the saddle cloth of the horse of the knight Walter D'Astemberg who opened the Battle of Monteaperti was in vermilio sendal embroidered with green dragons streaked with gold.
The Seat of the Contrada is in Poggio dei Malavolti, now called Piazza Matteotti. It moved here in 1788 after holding its meetings in the Campagna of San Domenico in Camporegio, and then in the Basilica of San Domenico.
In the Church of Saint Catherine (once called Monache del Paradiso) which is Contrada property, there is a bust of Saint Catherine by Lorenzo di Mariano nicknamed "Marrina" (1476-1534). It also has a valuable chasuble donated to the Contrada by Pope Benedict XV.
The men of the Drago played an important part in the Battle of the Ponte a Rosaio against the troops of Arrigo, son of Frederick Barbarossa (30th May 1186). They also distinguished themselves in driving out the Spaniards especially in the seizing of the trench called "Travata", behind which the garrison of Don Garcia of Toledo had taken cover (near the present-day Piazzetta degli Alberghi) in an attempt to make a counter-attack and re-take the initiative (28th July 1552).
On 1st December 1970, the Contrada of the Drago was decreed an "Ente Morale" (non-profit making organization) of Canon Law by the Archbishop of Siena in the Cathedral of Siena.
The ancient and grandiose Basilica of San Domenico is on Drago territory, as is the ancient Seat of the University and Palazzo Spannocchi where a plaque commemorates the participation in the Risorgimento of the Contradas Drago, Oca and Selva.
The great violinist Rinaldo Franci and the famous contemporary sculptor Vico Consorti were born and lived on Drago territory.