I found a trick to type a message in iPad mail so it has a different font & color. Just copy a word with the font and color you want and just paste it as the first word of your message and start typing from that word on and it will type the message with that font & color. What I did was have a group of words in different fonts and colors saved as a draft message and when I want to write mail in a certain font or color I just copy it from there and then paste it as the first word of a reply or new message.
That's a pretty neat trick, hadn't thought of that. Well, there wasn't really a time when I've wanted to write an email in color so that may have been why.