Abstract Trait polymorphisms can vary across different contexts of selection and be maintained through trade-offs between these contexts. For example, colour polymorphic variants may represent alternative strategies optimizing crypsis or thermoregulation in different populations. Here we use visual modelling to test the conspicuousness of different colour pattern morphs in males and females of an Australian lizard, Lampropholis delicata, to predators and conspecifics. We further assess differences in reflectance, microhabitat selection, and mate preference to determine the functional role of the polymorphism and explain its variable distribution across latitude and the sexes. Plain morphs are more conspicuous than striped morphs in both bird and lizard visual models, suggesting predation selection, and habitat structure varies among sex-morph types, but we find no difference in microhabitat selection or mate preference based on colour. We suggest that a combination of spatially varying selection, habitat preference, and context-specific behaviour may be necessary to explain spatial patterns of colour morph frequencies.