Can I get Python debugger pdb to output with Color?

You could try pudb, which works in the terminal and looks like this:

I haven't tried some of the options mentioned in other answers, but to judge from the PyPI pages, pudb is better maintained and better documented.

pdb doesn't support colorization. However, it's not that hard to get it, even if you're a command-line addict (as I am;-) -- you don't have to switch to GUIs/IDEs just to get colorization while debugging Python. In particular, command-line tools usually work much better when you're accessing a remote machine via SSH, saving a lot of the bandwidth and latency issues that any remote access to GUIs and IDEs can inflict on you;-).

Specifically, for the task you're asking about, consider ipdb (you also need ipython, which offers a far more advanced shell than plain interactive Python, on which ipdb relies). Both offer you good tab completion, enhanced tracebacks, and colorization -- ipython for your normal interactive work, ipdb with the same features when you're debugging (otherwise just about the same as pdb).