LabelsWin is described as 'file and folder colour icon labels for Windows Explorer. Allows you to mimic the OsX feature to color-tag files and folders. There is a lite version that only works on folders, tried on Windows 7 and it didnt work, it claims compatibility' and is an app in the File Management category. There are four alternatives to LabelsWin for Windows. The best alternative is Folder Marker, which is free. Other great apps like LabelsWin are Folder Colorizer (Freemium), Xentient Labels (Paid) and Folderhighlight (Paid).
Windows Explorer is too boring? Color it up! Assign any color to any folder – just right-click a folder and choose “Colorize”! Supports your own colors, labels and works seamlessly with any version of Windows.