The magenta dragon is located inside the Lava Isle maze. If you are unsure on how to reach the Magenta dragon once you are inside the maze visit this site, Helping-on-horseisle.webs.com and click on mazes :) Hope this helps. Love the Helping-On-HorseIsle team. xx
The Green Dragon, then Cyan, Yellow, Magenta
There is Falcor, Atreyu's luck dragon,all the dragons on lava isle and many more they might create on Horse Isle.
On Horse Isle, Lava Isle
You first need to do Amariel's Seven Orbs quest. She is located in one of the group of houses you encounter when you first arrive on Lava Isle. ~DarkerThanBlack on Brown
To start this quest talk to Xiang on Lava Isle, I still haven't finished it yet but to get the dragon teeth Xiang asks you to get dragon teeth from the all the Volcanoes in the Lava Isle maze.
There are seven dragons in all: Magenta Red Blue Purple Cyan Yellow Green
The Dragons Teeth are located around each of the five volcanoes in the Lava Isle maze. There is one tooth per dragon's volcano. Dig around each volcano when you get there and you will find them! See the Related Links section below to see a map of the Lava Isle maze if you need one!
You can Buy a Baby Dragon companion on Lava Isle in a maze on a southern, round peninsula connected to the main isle. They are around 50 million dollars.
You have to do a specific quest before the Cyan dragon appears in its cave.
Go to the center of the small maze on Lava Isle. The Baby Dragon companions there cost $50,500,000.
You can buy the Pheonix Companion on Lava isle for the same price as a dragon companion ($50,500,000).
Follow the pink trail along the western-most side of the maze to the Magenta Dragon's den: