Drag and drop color onto an object

I have a series of colors that are in image form, like a picture of the color blue. I want to be able to drag and drop the color onto an object to change it’s color. If anyone knows a better way of changing an object’s color do let me know because this one was the first thing that came to my mind.

drag and drop can be done via scripts implementing the appropriate eventsystem interfaces (IBeginDragHandler, IEndDragHandler, IDragHandler, IDropHandler), there are other approaches to achieve the same using the OnMouseButton/Down/Up if you prefer.