HI, It is spiderwort-tradescantia; each bud opens for a day, but you get splash of color for weeks, it can be cut back and get a fall bloom. I love it-have fuschia, different shades of purple and white. Some of my blooms this year are 1 1/2 inches across and doubled. If you don't like it, dig it out before it goes to seed.
That sounds like its it.. I LOVE this plant. I didnt know about cutting it back to get it to rebloom in the fall can you tell me more about how to do that. I too would love some of your Fushia & white if you ever have extras.
I cut mine down to the ground after the last of the bloom- it is looking pretty bedragged by then. Soon you will see new shoots coming up. I will not have any white to trade for a long time, does not seem to spread very well and am waiting to fill the one fuschia trade. May have more of that in the fall or next spring for sure.
My father called this plant Moses in the Bulrushes. We had it all over our yard and in the yard of the house I owned in the middle of the city. I, too love it and had many colors of it... I'd love to haVe some more sometime!