With the resurgence in the interest of using natural textile dyes, a solution must be found that will overcome the limitations of traditional natural dyes. This solution must also be safer for both humankind and the environment than are synthetic dyes. This study compares the colorfastness of commercially available synthetic and natural dyes to wood-staining fungal pigments on both unmordanted and mordanted fabrics. Colorfastness to rinsing, washing, perspiration, and crocking were tested using AATCC standard test methods. A modification of the AATCC standard test method for colorfastness to light was developed using a QUV Accelerated Weathering Tester. Colorfastness was determined using statistical analyses of overall color changes as determined by color readings taken with a colorimeter and using the CIE L*a*b* color space. Results indicate that the wood-staining fungal pigments, especially xylindein, show good potential as a competitor to both synthetic and natural dyes. There are, however, some limitations, such as color intensity and consistency of performance, which still need to be researched and overcome.