Centropyge multicolor is one of the more striking small angelfish available to reef keepers, built on a silvery-white upper body that transitions to orange or pale peach below. An electric blue patch sits behind the eyes, speckled with black spots, while the dorsal and anal fins carry the same blue and the caudal fin flashes bright yellow. Juveniles begin life with orange and blue striping that reorganizes into the adult pattern as they mature. Adults reach roughly 3.5 inches. The species occurs across island groups of the Western and Central Pacific, including Palau, the Caroline Islands, Micronesia, Guam, the Marshall Islands, Fiji, Tonga, the Cook Islands, and French Polynesia, where it is a shy, benthopelagic fish of outer reef slopes at depths between 60 and 300 feet, typically moving in small groups of three to seven among dense coral growth and rubble.

Adults should be given a mature reef or fish-only-with-live-rock system of at least 75 gallons. Fine crushed gravel or sand suits the substrate, and the rockwork should be arranged into caves, crevices, and overhangs that provide both grazing surfaces and immediate cover, with open water left available for swimming. This species is more secretive and more delicate than familiar dwarf angels such as the Coral Beauty or Lemonpeel, so generous rock structure is not decorative but functional. Acclimate new arrivals slowly and keep lighting dimmed for the first 30 to 60 minutes after introduction to reduce stress while the fish locates shelter.