You can change the type color before or after you enter text. When editing existing text layers, you can change the color of individual characters or all type in a layer. You can also apply a gradient to text in a text layer.
To change the color of text before you type it, select a type tool.
To change the color of existing text, select a type tool and then drag to select the text.
To choose a color from the Color Picker, click the colored area of the Color menu in the options bar.
To choose a color from a list of color swatches, click the triangle on the Color menu in the options bar.