Colorized Names?

[eg-eliteghost]

I saw this at the webpage http://www.vilegaming.com  i think its pretty neat, Can somone build this so any member can change the color of thier name and or parts of thier name,   section it off kinda like BBC  codes in the user name to change colors?

Also on that site i liked how he has a ranking system (ladder system)  for his members to play each other and gain points. Can somone point me in a direction on how to do somthing like this? Or if somone could build it thatd be cool.

Thanks