Peach Color, Pink
noun, の adjective
A peach color is a peach color, or pink.
ももいろ
The readings come from the vocab readings (and kanji readings, actually) of the two kanji.
桃色のバンで母親が迎えにきた時は、恥ずかしかったですね。
I was embarrassed when my mom came to pick me up in the peach colored van.