Colored polish is used on correspondingly colored leather. While neutral polish is an appopriate choice, colored polish provides a richer color as well as restoring color to worn leather. Colored polish is available in both paste wax and cream formats, although cream polish provides a wider range of colors.

Colored polish may also be used as a overlay on high gloss black leather. The effect is subtle, but blue polish creates a sharper shine while red polish produces a deeper shine. The blue polish overlay is often used when boots are to be worn onstage (particularly as part of a contest).