diff --git a/CHANGELOG-WIP.md b/CHANGELOG-WIP.md
index 13b579edd06..39f61008d1e 100644
--- a/CHANGELOG-WIP.md
+++ b/CHANGELOG-WIP.md
@@ -1 +1,4 @@
 # Release Notes for Craft CMS 5.7 (WIP)
+
+### Extensibility
+- Added `craft\fields\data\ColorData::$label`. ([#16492](https://github.com/craftcms/cms/pull/16492))
diff --git a/src/fields/Color.php b/src/fields/Color.php
index 2fb0b2214d9..8735af617bf 100644
--- a/src/fields/Color.php
+++ b/src/fields/Color.php
@@ -293,7 +293,15 @@ public function normalizeValue(mixed $value, ?ElementInterface $element): mixed
         }
 
         $value = ColorValidator::normalizeColor($value);
-        return new ColorData($value);
+        $value = new ColorData($value);
+
+        // set the label on the value too?
+        $option = Arr::first($this->palette, fn(array $color) => $color['color'] === $value->getHex());
+        if (isset($option['label']) && $option['label'] !== '') {
+            $value->label = $option['label'];
+        }
+
+        return $value;
     }
 
     /**
diff --git a/src/fields/data/ColorData.php b/src/fields/data/ColorData.php
index e625daaa0ca..aec9295ccf2 100644
--- a/src/fields/data/ColorData.php
+++ b/src/fields/data/ColorData.php
@@ -28,6 +28,12 @@
  */
 class ColorData extends BaseObject implements Serializable
 {
+    /**
+     * @var string|null The human-facing label for the color.
+     * @since 5.7.0
+     */
+    public ?string $label = null;
+
     /**
      * @var string The color’s hex value
      */