Each year Pantone names a color to be the "color of the year" of sorts, anticipating trends in clothing and home decorating.
The color they have selected for 2010 is "Turquoise", nearly identical to the 2005 selection, "Blue Turquoise"
15-5519
HEX: #1A9A94
In 2009 the shade was called "Mimosa", although it looked more like mustard
14-0848
HEX: #EEC050
And in 2008 the color was "Blue Iris"
18-3943
HEX: #2B167B
I don't recall seeing any more blue in the world in 2008 or any more yellow in 2009. Maybe I'm not sensitive enough to have noticed anything but the broadest patterns, but the only color trends I've ever noticed in this country were the early 1990s when mauve seemed to be everywhere, and the past five years when colors in the range of chartreuse/wasabi/avocado became popular.
In Japan, nearly ten years ago, I noticed an inordinate number of women dressed like neopolitan ice cream: tan, white, and pink. I was sure we would see that style in the US, but it hasn't happened.