The main material's color.

	// Fade the color from red to green
	// back and forth over the defined duration
	var colorStart : Color = Color.red;
	var colorEnd : Color = Color.green;
	var duration : float = 1.0;
	function Update () {
		var lerp : float = Mathf.PingPong (Time.time, duration) / duration;
		renderer.material.color = Color.Lerp (colorStart, colorEnd, lerp);
	}

using UnityEngine;
using System.Collections;

public class Example : MonoBehaviour {
    public Color colorStart = Color.red;
    public Color colorEnd = Color.green;
    public float duration = 1.0F;
    void Update() {
        float lerp = Mathf.PingPong(Time.time, duration) / duration;
        renderer.material.color = Color.Lerp(colorStart, colorEnd, lerp);
    }
}

import UnityEngine
import System.Collections

public class Example(MonoBehaviour):

	public colorStart as Color = Color.red

	public colorEnd as Color = Color.green

	public duration as float = 1.0F

	def Update() as void:
		lerp as float = (Mathf.PingPong(Time.time, duration) / duration)
		renderer.material.color = Color.Lerp(colorStart, colorEnd, lerp)