We use paint chips for a lot of colour-themed activities, but our favourite is still the sorting and matching activity that uses cut up strips of paint chips and grouping them together with similarly coloured paint chips. We typically do this activity all at once and the kids both work at their own pace, since they enjoy sorting. They also like to put two colours together and guess what colour it would create and try to find that colour among the rest of the chips.
I set up two trays. One tray has white index cards cut up and has the name of a colour written on it in the corresponding colour. Beside them I placed the "colour book". These are the colour shades the kids liked the best. I punched a hole in the corner and placed them on a ring.
They can flip to any colour and match the name. The names are colour coded for Munchkin.
Meanwhile Bean sorted the colours as best she could. Some of the colours were difficult, like the ones that could easily fit into two colour groups, like reddish-orange or greenish-blue.