Silver colloids show different colors due to light absorption and scattering in the visible region based on plasmon resonance. The resonance wavelength depends on particle size and shape. Here we report chemical reduction methods for preparation of silver nanoparticles exhibiting multicolor in aqueous solutions. Depending on chemical conditions the obtained nanoparticles are different regarding size and morphology.In order to investigate the relationship between size, stability and color of silver colloids we obtained silver nanoparticles in aqueous solutions using different reducing agents. The effect of polyvinyl pyrrolidone (PVP) and polyvinyl alcohol (PVA) on stabilization of obtained silver colloids was investigated. We have also studied the effect of silver precursor and its concentration on the formation of stable silver colloids.UV-VIS spectrum for silver colloids contains a strong plasmon band near 410 nm, which confirms silver ions reduction to Ag° in the aqueous phase. The formation of metal silver was also confirmed by powder X-ray diffraction (XRD) analysis. The diameter size of silver nanoparticles was in the range from 5 nm to 100 n