At least according to the folks at Pantone.com
Pantone (which is known as the standard language for 'color communication') has even created an on-line community for "color enthusiasts" to share their favorite palettes. Are you color-crazy? Pop on over and check it out!
As for the color of the year, I'm dreaming of white sands, turquoise bikini with matching bracelet and a slushy blue cocktail!