The invention concerns a solid or liquid fuel composition capable while burning of producing a selected and varied colored flame other than the color of a standard flame. The composition comprises triethanolamine and a color-forming agent. The invention also concerns a candle or lighting device with a colored flame prepared from the composition. The invention further concerns a method for making a candle with a colored flame comprising the steps of casting the composition into a mold wherein a wick has previously been fixed, cooling the cast composition, and removing the cooled composition from the mold.