This work aims to analyze the physiological characteristics of caladium ornamental plants with different leaf colors. Ten leaf colors, i.e., dark maroon, maroon, red, pink, white, pinkish young green, yellow, lime green, pinkish dark green, and dark green, were arranged in a completely randomized design and subjected to colorimetric red–green–blue (RGB) and portable photosynthesis measurement. Caladium leaf color, defined by the colorimetric RGB value, significantly impacted leaf physiological properties. Heatmap analysis apparently clustered caladiums into dark-colored group and light-colored ones. Dark-colored caladiums, as indicated by lower RGB values, exhibited higher photosynthesis rate, stomatal conductance, and water use efficiency (WUE). In contrast, light-colored caladium show a higher RGB, leaf temperature and light use efficiency (LUE) than the dark ones. By considering their leaf color-based physiological adaptability, this work recommends moderate sunlight and adequate water conditions for growing light-colored caladiums, while dark caladiums potentially tolerate excess light and water scarcity. Further research, including quantitative pigment analysis, is necessary to verify this hypothesis.