@sfsprink
If you mean the series of a line chart or XY scatter chart: yes, click on a series, then click Format Selection on the Format tab of the ribbon. Each series can have a different color. You cannot, however, color the individual segments of a series individually.
As for the borders of the chart area and the plot area, the axes and the gridlines: you can color each of these independently of the others. But you cannot assign different colors to each individual major gridline, for example.
