Customizing LilyPad LED Colors
Contributors:
Dia
Dia 
Materials
You'll only need a few things to get started.
The first is Silicon Conformal Coating. Mine came from the local hardware store, but I threw an Amazon link up there in case you can't find it!
Second is Sharpies. I'm using the 80's Glam Collection, and I've never been happier.
Obviously, you're going to want some LilyPad LEDs. I used white, because I wanted a really reliable match for my Sharpie colors, but if you want to try coloring over other base colors, have at it! Who am I to stand in the way of true love?