"mi" isn't a color, it's "My" or, if with an accent, "me"
Mi color preferido (favorito) es ...
My favorite color
El azul es mi color preferido.
Mi color favorito es el .......
mi color favorito es el...
"Mi color favorito es el Indigo"
mi color favorito es el naranja
"¿Cuál es tu color favorito?" literally means "What is your favorite color?"To respond, simply state the color in Spanish. For example, red in Spanish is rojo. You can also expand your answer by restating the question. In this case you would say: "Mi color favorito es [insert color here]."
Mi color favorito es azul.
Mi color favorito IPA [mi koˈloɾ faβoˈɾito]
mi color favorito es morado. = my favourite colour is purple.
Mi color favorito es ______