Downloading folderbycolor 1.6.4 for Mac from the developer's website was possible when we last checked. We cannot confirm if there is a free download of this app available. We recommend checking the downloaded files with any free antivirus. This free software for Mac OS X is a product of Ninth Space. The software lies within Theming Tools, more precisely Icons & cursors.
From the developer:
Folder by Color is a folder color changing tool. Using different colored folder icons, you can keep your files well organized, thereby increasing the efficiency of file management. You can create a folder template and replace the folder icon with the right mouse button on your Mac. Or, you can drag the folder to Folder by Color, modify the folder icon color, and then apply the changes.
You may want to check out more Mac applications, such as Penpower Handwriter, Dockscrew or F.lux, which might be related to folderbycolor.