Graphene research has developed quite rapidly partially because even a monatomic layer can be visualized with a conventional optical microscope. Although optical properties of multilayer graphene such as optical contrast, reflectance (R), and Raman scattering have been well studied, they are studied independently and the thickness dependence is limited to a rather thin region. In this paper, the evolution of optical properties by thickness from monolayer to multilayer graphene up to 107 nm thick is studied comprehensively. The empirically known change of color of multilayer graphene is confirmed from the R, G and B intensities extracted from the optical images. It is also found that, as far as R for visible light is concerned, multilayer graphene is not necessarily considered as a layered material, and the refractive index for monolayer graphene is applicable even for the thickest multilayer graphene flake in this study. On the other hand, the layered structure and Raman scattering at each layer are essential to reproduce the G-band intensity of Raman scattering (I(G)). Not only the multiple reflection but also the interference of scattered Raman light should be considered for I(G) of multilayer graphene thicker than ∼30 nm.