I am so sorry and excuse my ignorance, but I am not familiar with artificial dragon flies. If you mean a type of art, then yes, you can hang art on your tree as long as it is not so heavy as to break branches. If you mean some sort of insect repellent working as a way to make other insects, think your tree has dragon flies, then yes again that will not harm the tree. I do not know if hanging an artificial dragon fly will work to ward off pests, but it is worth a try. Keep growing, Marianne Binetti