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1.
Usually used as slang in Brazil, a colorful friend is a person who you can have an open sexual relationship with without a commitment. Brazillian name for "friends with benefits".
Oh him? No, we're not dating; we have a colorful friendship.
by Fulvia May 26, 2009
 
2.
A black chick who loves a white man and they have asian babies. And there grandparents are indian.
Vaishnavi has a colorful friendship with a white person.
by Straightasacircle July 09, 2014