if you have color names stored in database like 'RED', `GREEN` etc...
you can get
Color
object using
System.Drawing.Color.FromName
method
Label1.Backcolor= System.Drawing.Color.FromName("GREEN");
update
----------
if you have stored colors like
COLOR[RED]
Dim fromDB As String = "COLOR[RED]"
Dim color As String = fromDB.Split( New Char(){"[", "]"})(1)
Label1.Backcolor = System.Drawing.Color.FromName(color)