Hering's Opponent-Colors Theory has been central to understanding color appearance for 150 years. It aims to explain the phenomenology of colors with two linked propositions. First, a psychological hypothesis stipulates that any color is described necessarily and sufficiently by the extent to which it appears reddish-versus-greenish, bluish-versus-yellowish, and blackish-versus-whitish. Second, a physiological hypothesis stipulates that these perceptual mechanisms are encoded by three innate brain mechanisms. We review the evidence and conclude that neither side of the linking proposition is accurate: the theory is wrong. We sketch out an alternative, Utility-Based Coding, by which the known retinal cone-opponent mechanisms represent optimal encoding of spectral information given competing selective pressure to extract high-acuity spatial information; and phenomenological color categories represent an adaptive, efficient, output of the brain governed by behavioral demands.