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for my $name (@colors) {
  no strict 'refs';    # allow symbol table manipulation
  *$name = sub { "<FONT COLOR='$name'>@_</FONT>" };
}

use strict;
use warnings;
...
print "green:  ${\(green())}\n";
print "violet: ${\(violet())}\n";

----- $name is constant inside sub ------
red:    <FONT COLOR='red'></FONT>
...
red:    <FONT COLOR='something wacky and wonderful'></FONT>
green:  <FONT COLOR='something wacky and wonderful'></FONT>
violet: <FONT COLOR='something wacky and wonderful'></FONT>

----- $name is constant inside sub ------
Use of uninitialized value in concatenation (.) or string at ...
...
red:    <FONT COLOR='something wacky and wonderful'></FONT>
green:  <FONT COLOR='something wacky and wonderful'></FONT>
violet: <FONT COLOR='something wacky and wonderful'></FONT>