This provides fields which are displayed as colored areas.
There are two types of fields:
Select Color Custom Field. This field is like a single select list with a configurable list of colors.
Picker Color Custom Field. Choose a required color with a picker.
Installation and upgrade:
Open JIRA's plugin manager, and in the Find new add-ons section search for Color Custom Fields and click Install. Alternatively, you can start from the Atlassian Marketplace page of Color Custom Fields.
Steps to configure: