Wikipedia explains that a color scheme is a selection of colors used in design for a range of media. This includes interior design, advertising, web design and more.
According to Tiger Color, a color scheme may be created in a couple of ways using a basic color wheel. The complementary color scheme uses two colors that are opposite of each other on the color wheel, such as red and green. Analogous color schemes include three colors that are next to each other on the color wheel, such as teal, green and light green. The triadic color scheme creates a triangle on the color wheel and uses three colors that are diagonal from each other, such as green, purple and orange. The split-complementary color scheme is a variation of the complementary scheme, using a base color and two colors adjacent to the complement of the base, such as green, orange and purple. The rectangle scheme uses four colors arranged in two complementary patterns, such as red to blue and green to yellow. Finally, the square color scheme is similar to the rectangular, but it uses four colors that are evenly spread around the color wheel, such as red, blue, green and yellow. Using the color wheel, designers can create quick, simple and aesthetically pleasing color schemes for any medium.