I don't know of any utility for colored printing itself, but you can do it easily with a shell function like this:

# colorize stdin according to parameter passed (GREEN, CYAN, BLUE, YELLOW)

colorize(){

    GREEN="033[0;32m"

    CYAN="033[0;36m"

    GRAY="033[0;37m"

    BLUE="033[0;34m"

    YELLOW="033[0;33m"

    NORMAL="033[m"

    color=$${1:-NORMAL}

    # activate color passed as argument

    echo -ne "`eval echo ${color}`"

    # read stdin (pipe) and print from it:

    cat

    # Note: if instead of reading from the pipe, you wanted to print

    # the additional parameters of the function, you could do:

    # shift; echo $*

    # back to normal (no color)

    echo -ne "${NORMAL}"

}

echo hi | colorize GREEN

If you want to check other colors, take a look at this list.
You can add support for any color from there, simply creating an additional variable at this function with the correct name and value.