There are five basic body colors of horses.

BROWN
A brown horse has a mixture of black and brown in his coat. In Europe, a "bay" is considered to be a brown horse.
BAY
A bay horse can be any shade of brown (which is a mixture of red and yellow), with points such as tail, mane, muzzle and lower legs being black. The brown can range from a light, almost tan or chestnut to a dark, seal color.
BLACK
A black horse is completely black, including muzzle and flanks. Most horses that look black are actually a very dark bay.
CHESTNUT
A chestnut horse has brown skin and the hairs are actually red. The shades vary from a light yellowy color to dark liver. The mane and tail are usually the same color as the body but can be lighter. The lighter coloring is called flaxen. Lighter colored horses are called sorrel; very dark chestnut is called "liver chestnut".
WHITE
A truly white horse is born white and remains white. His hair is snowy; he has pink skin and blue eyes. Cream horses are a variation, also having unpigmented skin and pink or blue eyes, with a pale colored coat. Most "white horses" are actually light gray.

There are also three major color variations in horses.

DUN
Duns have black skin with an evenly distributed coat color and a black mane and tail, similar to bay coloring. The coat color can range from a pale yellowish color to the color of a dirty canvas. Dun horses usually have a dorsal stripe down their backs and some have stripes on their forearms. The lighter shades are called buckskin.

GRAY
A gray coat is actually a mixture of black and white hairs on black skin. A foal may be born a solid color with a few white hairs sprinkled in his coat, but more white hairs will appear in the coat until he is gray at maturity. "Dappled gray" looks mottled, while grays with clusters of darker hair which sometimes include a reddish brown, are called "flea bitten".

ROAN
Roan is a mixture of white and colored hairs. White with brown is called red roan; white with red is strawberry roan; white with black is called blue roan.

MARKINGS

Variegated colors on a horse are referred to as markings, and are most common on their faces and legs.
The following describes the more common markings.

BLAZE
A white mark spread over the forehead and the length of the face. If the blaze is exaggerated to cover the entire front of the face, the term "bald face" or "war bonnet" might be used.
STRIPE
A white mark down the face, similar to a blaze but narrower.
STRIP
A white mark running partway down the face.
STAR
A patch of white on the forehead.
SNIP
A white or pink patch on the nose or lip.
SOCK
White hair on a leg, looking like human ankle socks.
STOCKING
White hair on a leg, extending from hoof to hock or knee.