The genus name is from the Greek echino, meaning "spiny", due to the spiny central disk. They are herbaceous, drought-tolerant perennial plants growing to 1 or 2 m in height.
According to some studies Echinacea, when taken at first sign of a cold, reduced cold symptoms or shortened their duration. Others say it has no clinically significant effect on the common cold even if taken immediately, however, it does have a following.
Echinacea is popularly believed to be an immunostimulator, stimulating the body's non-specific portion of their immune system and warding off infections.
Whether its components when ingested, are effective or not, is irrelevant to me. I like the look of this flower and it makes a lovely addition to my poolside garden. A bit of whimsy and fantasy has been added to this image which naturally grew as a "double headed" flower on one stem.