The invention relates to a colored ribbon machining device, in particular to automatic pulling and cutting equipment for colored ribbons. The equipment comprises a raw material frame, a discharge baffle plate, an electric heating wire, a positioning baffle plate, a pulling cylinder, a slide plate and a guide column mounted on a worktable; the raw material frame is provided with three colored ribbon raw material coils; the end part of the raw material frame is connected with the discharge baffle plate; an arrangement pipe, a gathering pipe and a protection plate are mounted at the end part of the discharge baffle plate in sequence; the discharge baffle plate is provided with the guide column, and the other end of the guide column is fixedly mounted on the positioning baffle plate; the guide column is sleeved with the slide plate; a lifting cylinder and a pneumatic clamp are mounted on one side, towards the discharge baffle plate, of the slide plate; the other side of the slide plate is connected with a push rod of the pulling cylinder; and the electric heating wire is mounted on the worktable in front of the protection plate through two stand columns. Through matching between the cylinder and the pneumatic clamp, clamping of the colored ribbons, length measurement and shearing are all finished through mechanical actions, so that consistent length of each colored ribbon is guaranteed.