Our website provides a free download of TermColors 1.0 for Mac. The application is included in Theming Tools.
From the developer:
The Terminal is a wonderful tool for UNIX users moving to OSX. However, if you are logged into multiple systems simultaneously, it can be easy to confuse which windows belong where. With TermColors , you can quickly and easily open Terminals of eight different user-configurable colors from an easily-accessible pop-down menu.