Never done any gore (or fluid splashes for that matter) before, so I have no idea how to do this. But it’s a start at least, not sure where I’m going with this tho.
Only using meshes for now, but I’ll probably look around and see if I should do it some other way.
WIP:
Final version:
nice! since your using ue4, use the erosion in the opacity to give the blood evaporation give you some extra movement 
Cool start! i think it needs to be snappier. Its initial spurt doesnt feel like its being pushed out by any pressure inside the neck, and its fall doesnt feel like its being pulled down. The second part feels like its going in slow motion. I’d work on the timing first
Still a lot to fix with the movement, but added some erosion which I still need to work with a bit.
Not sure which version that’s going to be the final one in the end either, it’s interesting to work with both. And I’ll most likely work with them side by side, just to try out different movements etc until I know which style I like the most.
Not really sure what to fix with it, been looking for it too much. So any feedback is appreciated, in the meantime I’ll most likely take a few days break from it and look at how other games have done it.
A lot of things I’d do different if I ever make blood or splash effects again, but it was fun to give it a try at least. But this is the final version at least.