Colorize file names?

I'm working on a large project with several versions and I often lose track of which version I'm editing. is it possible to colorize file names in Finder so Version 1 would be red, Version 2 blue, etc?

 

hotdamn! Many thanks

 

OK, I changed the folder colors in Finder, but if I then move the folder to the Finder Sidebar the color disappears. I downloaded easySIMBL and the ColorfulSidebar Plugin but there's no effect in the window.

I'm running Lion on an intel iMac

 

That's fine, thanks. No problem.

 

Thanks, Dan, but I'm running Lion