AC/DC, Back in Black.
Purple Haze !
Don't It Make My Brown Eyes Blue by Crystal Gayle
That's tough. There are so many. Prince's Raspberry Beret. Nena's 99 Red Balloons (aka 99 Luftballoons). Bob Dylan's Tangled up in Blue. And so many more, but I am going with UB40's Red Red Wine.
How about ummmm "Blue Suede Shoes" by Elvis Presley?
Can't say it is my favorite but it is a song with a color in the title!
I wouldn't exactly call it a favourite but for colour it's hard to go past "Orange Coloured Sky". How's this for a rainbow finish:
I was walkin' along mindin' my business
When love came and hit me in the eye.
Flash! Bam! Ali-ca-zam!
Out of that orange colored purple striped pretty green polka-dot sky:
Flash! Bam! Ali-ca-zam and goodbye.
The Red by Chevelle
(Is black a colour? Or an absence of colour? Or a colour additive? - I sense a blurtit question coming)............
There are so many, it's difficult to choose. Here is a very old favorite.
Behind blue eyes ~ The Who
Green and Gray, Nickel Creek; bluegrass-fusion-pop with beautiful harmonies.