How to Change Name Color in Minecraft (Teams Command)

Use this command to create a team and choose any name you want. I chose name

team add name

Choose a color and use the command below. I chose red

team modify name color red

Now, let's join this team

team join name @p

To add other player, the command is similar to the last one, just replace @p with the player or mob

I will test it with a pig. Here is the command to summon a mob with its name visible

summon minecraft:pig ~ ~1 ~ {CustomNameVisible:1b}

Or you can rename an existing mob and make its name visible like this

data merge entity @e[type=minecraft:pig,limit=1,sort=nearest] {CustomName:"Custom Pig",CustomNameVisible:1b}

And lastly, add the mob to the team

team join name @e[type=pig,limit=1]