This page explains what colors you can edit, and what is their utility.
To edit these colors, go to your Dashboard > Customize, then go to the Colors & Effects tab.
Accent color
Sets the theme-color meta tag and the trail effect color if you have the "Fairy Dust" cursor effect enabled.
Text color
It is recommended to choose a color that contrasts well with your background for better readability.
Background color
Sets the background color of your profile. It displays while your background image or video is loading, or if none is set.
Badges color Premium feature
Changes the colors of your badges.
Links color
This option changes the color of your links.