water (or blood) flows from tube - BP or Material?

I want to make smth like this:
water flow.jpg
That water (or blood) flows from from tube. But now I dont even know from point to begin. Is it possible to do it only by material or mat+bp? Maybe someone have smth similar.

In the Learn tab, check out both Particle Effects and Elemental Demo. They have waterfalls, so I would start there.