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1.
A colored bandana or other clothing item worn by undercover cops. Every day this color changes so cops in uniform can tell an undercover cop without having them pull their badge. This allows undercover cops to maintain undercover status while providing protection in any instance of uniformed involvement.
I almost shot him, but then I saw he was wearing the color of the day and knew he was a cop.
by BiggB April 09, 2006
23 17
 
2.
reffering to the color of a girls underware
Sally, whats your color of the day?
by buckzd June 05, 2005
20 26
 
3.
A game some guys (doesn't matter what age) play where they try to see the color of a pretty girls thong(underwear) for the first time that day.
(at lunch in school)

Greg: you seen the color of the day yet?
Will: no, still looking.
Greg: wait, BLUE! With a red whale tail!
Will: where?!
Greg: bent over at the vending machine!
by DrPantsPhD (gregk) April 06, 2009
3 10
 
4.
UPDATE:

Color of the day Was started in Ellet By Zack Rodgers And Jessi Nagle, Color of the day reffers to the color of a girls underware (usually the color of a thong)
Hey Katie, Whats the color of the day?
by Zack at Tarnic.com December 22, 2005
9 36