Colored spun yarn is the yarn spun by fibers with two or more different colors, which has special color mixing effect and meets the needs of the market. In the spinning of the colored spun yarn, the fibers should be dyed and mixed firstly, which is the most important step during the yarn spinning. In the paper, colored fancy spun yarn spinning was studied. Taking the cotton fiber as example, the dyeing of fibers was presented, and the properties of the colored fiber and the natural fiber were tested and analyzed comparatively firstly. Then, 18.2tex (32S) three different colored fancy spun yarns, the colored AB Sirospun yarn, multicolored yarn and section-color yarn were spun on the EJM128K ring spinning frame, respectively. The detailed spinning processes were given. Then, the properties of yarn, yarn hairiness, strength and evenness were tested and analyzed comparatively. The results show that comparing with the natural fibers, the thickness of the colored fiber was increased slightly while the breaking strength was decreased slightly. Meanwhile, comparing with the multicolored yarn and section-color yarn, the colored AB Sirospun yarn has the largest breaking strength, the best yarn evenness and the least yarn hairiness