You can apply multiple sets of color per vertex (CPV) data to your polygonal meshes. Multiple color sets let you separate, layer, and blend the color per vertex data stored on your polygonal meshes.
Color sets are useful because they can contain multiple layers of CPV data (baked lighting, painted vertex colors, and so on) that you can merge and blend to produce various effects. For example, you can have a color set for each time of the day (morning, afternoon, night and so on) or color sets that store levels of dirtiness or damage for a car model.
To edit and manage all of your color sets you use the Color Set Editor.