One of the coolest fundamental things you can do with Photoshop is convincingly change the color of something. This helpful tutorial will show you a few different methods to do that, as well as how to add and precisely match colors in your images.
Coming to you from Nathaniel Dodson of tutvid, this video examines five techniques for changing or adding color to an object in an image using Photoshop. There are of course numerous applications for this technique, from changing the color of clothing to making vegetation look a bit more appealing (I frequently adjust yellow grass to be a greener shade with a bit more pop). Perhaps my favorite method is the Curves and Lab mode technique, as it takes the guesswork out of matching colors by eye and gives you very precise numbers that allow you to dial in the exact shade you're going for without having to eyeball it. Be sure to pay particular attention to the feathering sliders in the Hue/Saturation adjustment dialogue; whereas the range sliders determine which colors you'll be affecting with your adjustments, the feather sliders can give the effect a smooth roll-off, increasing its believability.