A ribbon positioning mechanism comprises a ribbon cartridge, a nosepiece, a stepper motor and flexible ribbon guides connecting the ribbon cartridge to the nosepiece. The nosepiece has two side members connected by a bridge, one of which has a downwardly extending leg. A rack located on the bottom of the leg engages a pinion attached to the stepper motor for lifting the nosepiece into a desired position. A ribbon, having a plurality of parallel color bands, passes from the ribbon cartridge via the flexible ribbon guides and through the nosepiece where it is aligned with a print head. The nosepiece freely slides on vertical guide posts attached to a print head carrier and printer logic controls the stepper motor to align the desired color band with the print head.