With Annotations, you can select from a wide array of colors using the Color Picker.
This color will be used for the following tools:

You can click the color you want using the color palette or you can specify exact color codes in HEX, RGB or HSL.

To switch between the color code types, simply click the arrow toggles on the right of the color code.

When you adjust the color, you will notice that the Preview Circle on your cursor changes color. The color of the Preview Circle indicates the color that will be applied when you draw.

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