Blender Made Easy shows how you can use MantaFlow in Blender to create a colorful fluid simulation.

Blender’s MantaFlow is a new-ish system for creating fire, smoke, and liquid simulations. The system comes from an open-source fluid simulation framework developed and maintained at the Technical University of Munich (TUM). The simulation tool makes it much easier to create highly detailed effects in Blender. 

Check out this new tutorial from the Blender Made Easy channel to create a direct fluid simulation and apply bright colors to each particle. The colorful fluid simulation relies on a simple material to handle the effect.