You CANNOT set a color, it changes color on its own only if you swipe, the more you swipe around the faster it changes color
It DOES NOT move on its own, so if you do not swipe it, it does not move
Color changes from: Purple > Pink > Red > Orange > Yellow > Green > Blue > back to Purple
Install like a normal apk, remember to check the unknown sources. If you are facing any issues (force closes), some people are reporting fine and some aren't, if not then you must be rooted.
Download the apk
Move it to system/app
Set the correct permissions: RW R R
Reboot if necessary