colorable (adj.)

early 13c., "skin color, complexion," from Anglo-French culur, coulour, Old French color "color, complexion, appearance" (Modern French couleur), from Latin color "color of the skin; color in general, hue; appearance," from Old Latin colos, originally "a covering" (akin to celare "to hide, conceal"), from PIE root *kel- (1) "to cover, conceal, save." Old English words for "color" were hiw ("hue"), bleo. For sense evolution, compare Sanskrit varnah "covering, color," which is related to vrnoti "covers," and also see chroma.

Colour was the usual English spelling from 14c., from Anglo-French. Classical correction made color an alternative from 15c., and that spelling became established in the U.S. (see -or). 

Meaning "a hue or tint, a visible color, the color of something" is from c. 1300. As "color as an inherent property of matter, that quality of a thing or appearance which is perceived by the eye alone," from late 14c. From early 14c. as "a coloring matter, pigment, dye." From mid-14c. as "kind, sort, variety, description." From late 14c. in figurative sense of "stylistic device, embellishment. From c. 1300 as "a reason or argument advanced by way of justifying, explaining, or excusing an action," hence "specious reason or argument, that which hides the real character of something" (late 14c.).

From c. 1300 as "distinctive mark of identification" (as of a badge or insignia or livery, later of a prize-fighter, horse-rider, etc.), originally in reference to a coat of arms. Hence figurative sense as in show one's (true) colors "reveal one's opinions or intentions;" compare colors.

In reference to "the hue of the darker (as distinguished from the 'white') varieties of mankind" [OED], attested from 1792, in people of colour, in translations from French in reference to the French colony of Saint-Domingue (modern Haiti) and there meaning "mulattoes."

In reference to musical tone from 1590s. Color-scheme is from 1860. Color-coded is by 1943, in reference to wiring in radios and military aircraft. Color-line in reference to social and legal discrimination by race in the U.S. is from 1875, originally referring to Southern whites voting in unity and taking back control of state governments during Reconstruction (it had been called white line about a year earlier, and with more accuracy).

common termination and word-forming element of English adjectives (typically based on verbs) and generally adding a notion of "capable of; allowed; worthy of; requiring; to be ______ed," sometimes "full of, causing," from French -able and directly from Latin -abilis. It is properly -ble, from Latin -bilis (the vowel being generally from the stem ending of the verb being suffixed), and it represents PIE *-tro-, a suffix used to form nouns of instrument, cognate with the second syllables of English rudder and saddle (n.).

A living element in English, used in new formations from either Latin or native words (readable, bearable) and also with nouns (objectionable, peaceable). Sometimes with an active signification (suitable, capable), sometimes of neutral signification (durable, conformable). It has become very elastic in meaning, as in a reliable witness, a playable foul ball, perishable goods. A 17c. writer has cadaverable "mortal."

To take a single example in detail, no-one but a competent philologist can tell whether reasonable comes from the verb or the noun reason, nor whether its original sense was that can be reasoned out, or that can reason, or that can be reasoned with, or that has reason, or that listens to reason, or that is consistent with reason; the ordinary man knows only that it can now mean any of these, & justifiably bases on these & similar facts a generous view of the termination's capabilities; credible meaning for him worthy of credence, why should not reliable & dependable mean worthy of reliance & dependence? [Fowler]

In Latin, -abilis and -ibilis depended on the inflectional vowel of the verb. Hence the variant form -ible in Old French, Spanish, English. In English, -able tends to be used with native (and other non-Latin) words, -ible with words of obvious Latin origin (but there are exceptions). The Latin suffix is not etymologically connected with able, but it long has been popularly associated with it, and this probably has contributed to its vigor as a living suffix.