Combine all ingredients in a medium pot over medium heat.
- If you're using gel food coloring, a small blob is plenty.
- If you're using liquid food coloring, you might need anywhere between 10-20 drops, depending on how bright you want the colors.
Stir everything together with a wooden spoon until smooth. Continue stirring until a ball forms (it might still be a little sticky but it will mostly resemble play dough at this point).
Remove the mixture from the pot onto a clean work surface and knead until smooth. It will be very hot, so work carefully, don't burn yourself.
Let the mixtures cool, then store in an airtight container. Repeat for every color you want to make.