It is the best color out there. It is a color associated with power, awesomeness, ferocity, and passion. Every Razorback fanliterally bleeds this color, because their years of fanatical devotion have forever changed their body, mind, and soul.
Short-hand for the word floccinaucinihilipilification, meaning the estimation of something as valueless (encountered mainly as an example of one of the longest words in the English language).