Is color a copyable value?

Simple question: Is the color of a permanent a copyable value? (In other words, if something copies that permanent, will it also copy its color?)

The intuitive answer would be "of course it is!" Naturally it's not that simple.

Copyable values are listed in rule 706.2. They are: "name, mana cost, color indicator, card type, subtype, supertype, rules text, power, toughness, and/or loyalty".

Note that "color" is not among them. "Color indicator" is, but that's not the same thing. To understand the difference, assume that the color of a permanent were changed by something like Thoughtlace (which says "Target spell or permanent becomes blue.") That spell won't add a color indicator to the permanent; it will simply be a continuous effect that changes its color. If that permanent were to now be copied, it won't have that changed color, but the original one of that permanent.

The color of a permanent is derived from its other info. This is actually explicitly explained in the next rule, ie. 706.2a, which says: "A copy acquires the color of the object it’s copying because that value is derived from its mana cost or color indicator."

In other words, to derive the (copyable) color of a permanent, we look for one of these:

1. If it has a colored mana cost.
2. If it has a color indicator. (If it does, it overrides the color derived from the mana cost.)
3. If it has an ability of the form "(this) is (color)". (Very rare nowadays.)

So the next question is: If something creates a token that is, for example, a "1/1 green Snake creature", it will have no mana cost, no color indicator, and no abilities. If now something copies this permanent, will it be green?

From all the information given above, the answer would seem to be "no". After all, the copy has no mana cost, no color indicator and no abilities either, and as rule 706.2a said, those are the ones that would determine its color.

However, the real answer is "yes", but the reason for it is quite unclear and indirect (and, in my opinion, one of the shortcomings of the current rules, as they do not state this very clearly).

The list above was actually incomplete. There is a fourth case, but this additional case is very indirectly implied in a completely different rule pertaining to tokens. This fourth case would be:

4. If it's a token, and the effect that created it specified its color.

A special rule governs this situation. In this case "color" does become a copyable value of the permanent, and it will become copied if something copies it. This fact, however, is currently very unclear, and can only be inferred indirectly. The actual rule where this is inferred from is the following:

110.5b The spell or ability that creates a token may define the values of any number of characteristics for the token. This becomes the token’s “text.” The characteristic values defined this way are functionally equivalent to the characteristic values that are printed on a card; for example, they define the token’s copiable values. A token doesn’t have any characteristics not defined by the spell or ability that created it.

If you are confused, don't worry. So am I. But yes, that rule effectively means that "color" is a copyable value of the token (even though it's usually not for any other permanent).