This field type is available as a regular field for all the Apps and allows you to assign a color to a record through a color picker. However, its true power comes from its ability to work with other field types such as Boolean, Stage, and Choice Lists.
If you assign a color to any of the fields listed above, their values and their icons if available will be represented by that color in all the different charts.
You can also create a Color field for your forms. It could be used to create a product catalog and assign each product a color. It could also be used to develop a warning system for ticket escalations for example, in combination with Form Rules.
Configuring a Color Field
Give your field a name and add a field hint if desired. You can then select the section in which the field will be created or keep the default option.
The field type must be set to 'Color'.
Enable the 'Required' checkbox if the information for this field is mandatory. It means that if you enable this option, every time a team member creates a new record, they will need to input the information for this field in order to save it.
If you enable the 'Lock After Create' as its name implies, the field will be locked once the new record is saved and the value of the field will not be editable afterward.
Once you are done setting your field, click the save button.
Note: All new fields are added at the bottom of the form.