No, that's not a colour-modded iPod; its SanDisk's Sansa Fuze player, which will debut in Australia mid-year.
The candy-hued Fuze range comes in 2, 4 and 8GB varieties. That may seem puny, but each player sports a microSD slot that allows you to add up to 12GB -- after you slap down some extra cash for a high-capacity card, of course.
Other Fuze features include an FM radio, voice recorder and a 1.9 inch (4.8 centimetre) colour display. Looks-wise, SanDisk hasn't strayed too far from the aesthetics of its Clip and View players, which share the same basic layout.
On the file format front, you're looking at support for MP3, WMA (including the DRM variety) and WAV tracks, as well as Audible and Overdrive audiobooks. The Fuze also handles JPEGs and MPEG-4 video. SanDisk reckons you'll get five hours of video 24 hours of audio or between battery charges.
The Fuze hits the US in April, with prices starting from US$79.99 for the 2GB version. A local Sansa rep said Aussie prices are yet to be determined, but the player will be arriving in Australia around halfway through Q2. That's May, for those who don't do corporate-speak.

Taste the rainbow!