The Collaborative International Dictionary of English v.0.48:

Tulipwood \Tu"lip*wood`\, n.
   The beautiful rose-colored striped wood of a Brazilian tree
   (Physocalymna floribunda), much used by cabinetmakers for
   inlaying.
   [1913 Webster]

   Queensland tulipwood, the variegated wood of an Australian
      sapindaceous tree (Harpullia pendula). --J. Smith (Dict.
      Econ. Plants).
      [1913 Webster]

WordNet (r) 3.0 (2006):

tulipwood
    n 1: the variegated or showily striped ornamental wood of
         various tulipwood trees
    2: light easily worked wood of a tulip tree; used for furniture
       and veneer [syn: tulipwood, true tulipwood, whitewood,
       white poplar, yellow poplar]