Perhaps an easier way of accomplishing this is by using ANSI.SYS and the "$e" paramater of PROMPT.

Add "devicehigh=c:\windows\command\ansi.sys" (or c:\dos as the case may be) to your config.sys
now reboot and try typing "prompt $e[31;34m$p$g" and see what happens.
See the ANSI colour codes for more details.