Many may refer to the two colors simply as "pink" and "blue," but Pantone said the specific color combination demonstrates "an inherent balance between a warmer, embracing rose tone and the cooler, tranquil blue, reflecting connection and wellness as well as a soothing sense of order and peace."

The color combination is said to represent balance, calm, wellness, compatibility, duality and tranquility.

In the past, Pantone has selected one color each year. The 2015 color of the year was marsala, the 2014 color of the year was radiant orchid and the 2013 color of the year was emerald green.