This is a special RGB LED in that is has only two leads. Three colors with only two leads, how is that possible you ask? The colors are mixed automatically with a built-in transistor. When powered, the colors will change in a smooth gradient, and then it changes to a flashing pattern through each solid color. The solid colors we've spotted are red, green, blue, yellow, purple, and teal/turquoise. This style of LED is now available in a T1-3/4 (5mm) package.
NOTE: Use of a heatsink clip when soldering is highly recommended. The internal components are extremely sensitive to heat.