Generating analog signals
The Due (and similar SAM based boards) have a DAC built in which can be set to different voltages (I forget the range off hand, maybe 0-Vcc at 12-bit resolution). Change that voltage fast enough, and you have a waveform.

Other Arduinos have PWM outputs which, when filtered through a low-pass filter, give a voltage proportional to the duty cycle of the PWM. Again, change the duty cycle fast enough and you have a waveform (limited by the carrier frequency of the PWM).

Can you do it from LabVIEW? Who knows? I have never used it.