TrioX Labels!

Folder Marker is your small assistant, an ardent fighter for your convenience and comfort in any kind of computer work. Use Folder Marker to mark your folders. One mouse-click and it becomes clear at once which documents have a high priority, and which of them have a normal or low priority. It is easy to see which operations have been finished completely, which are partly done and which havent been started yet.

Rainbow Folders (RF) is an easy to use program, which allows you to change the color of the icon representing a chosen folder to any color you like.You can colorize an unlimited number of folders - each into a different color. So you could, for example, color all important folders red, all frequently visited folders green etc. Also the effect of colorizing folders is not only visible in Explorer but in whole system, so also in any directory selection tree, and open/save dialog in any Windows application. But changing colors is not the only thing you can do with RF, you can also set an extra warning when someone tries to delete a colorized folder, and optional text that will 'pop up' when the cursor stops above the folder's icon for a while. »

Quickly change the folder icons and restore them back to the original state in one click. Folderico support ICL-files and themes from iColorFolder. It also allows you to change Windows 7 libraries icons

LabelsWin file and folder colour icon labels for Windows Explorer. Allows you to mimic the OsX feature to color-tag files and folders. There is a lite version that only works on folders, tried on Windows 7 and it didnt work, it claims compatibility.

Windows Explorer is too boring? Color it up! Assign any color to any folder – just right-click a folder and choose “Colorize”! Supports your own colors, labels and works seamlessly with any version of Windows.

Xentient Labels, free and safe download. Xentient Labels 1.1: Adds color labels to Windows icons.