No. According to the Joy of Baking "...imitation vanilla extracts are made with synthetic vanilla (from glycoside found in the sapwood of certain conifers or from coal extracts)"
You could substitute just about any flavoring extract according to your taste: mint, lemon, almond, cherry, etc. If you do not have extracts, you can substitute a teaspoon or two of lemon juice plus...
It derives from the early Spanish word for pod: "vainilla" which in itself is a diminutive of the Spanish term vaina ("sheath") and originally back to the latin word vagina.