A hot, expanding, fully ionized plasma. Over weeks to years it cools, recombines into ions/neutral atoms, forms molecules in some regions, and a fraction condenses into dust grains, often as iron-bearing compounds like FeS and as inclusions in silicates.
> liquid iron is sitting around radiating its tail off
With the energy imparted by the cataclysmic devastation of a supernova I'd assume it's a plasma that cools and sublimates into a gas. These clouds of gas typically have magnetic fields that can bring particles close together where they form dust/grains.
