Fill your bucket with the recommended amount of water for the stucco that you will be using. Stucco mixes from different companies will require differing amounts of water, so follow the package directions closely.
Add in a colored pigment to the water. Although there will be directions on how much pigment to add for the shade of color you desire, you can use your own judgment, as well.
Mix the water with your mixing stick to disperse the pigment until the color is uniform throughout.
Pour in the stucco powder and mix it together with the colored water. Keep mixing until the powder has absorbed all of the colored water. It is now ready to apply to your walls.