That's right! Every color has its attributes and depending on the culture it can also have a special significance.
Deliciously Blue
Blue is calming. It can be strong and steadfast or light and friendly. Almost everyone likes some shade of the color blue.
A natural color, from the blue of the sky, blue is a universal color. The cool, calming effect of blue makes time pass more quickly and it can help you sleep. Blue is a good color for bedrooms. However, too much blue could dampen spirits.
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Green Choice
Green is life. Abundant in nature, green signifies growth, renewal, health, and environment.
With both a warming and cooling effect, the color green denotes balance, harmony, and stability. Use several shades of green for a fresh, Springtime feel. Olive green, also called olive drab, is a not so drab summery green that may have military overtones for some people.
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Hello Yellow
Yellow is sunshine and it denotes happiness and joy. Yellow is one of the warm colors. Because of the high visibility of bright yellow, it is often used for hazard signs and some emergency vehicles. Yellow is cheerful.
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Purplelicious
Purple is royalty. A mysterious color, purple is associated with both nobility and spirituality. The opposites of hot red and cool blue combine to create this intriguing color. Combining the stable and calming aspects of blue with the mystical and spiritual qualities of purple, Blue Iris satisfies the need for reassurance in a complex world, while adding a hint of mystery and excitement.
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Source: About.com