Color Replacement Tool
Photoshop CS3 Tutorial
How to Replace an Object's Color in Photoshop
The Color Replacement tool is handy if you need to quickly change an object's color.
Open an image in Photoshop (File > Open).
Select the Color Replacement tool and note the tool options.
The Blending Mode defaults to Color to retain the object detail and texture.
Choose a new Foreground color. You will paint with this color.
For the Sampling Method icons, choose either Continuous or Once. Once gives you additional control.
Set the Limits options to Find Edges.
Using the Color Replacement tool, paint the object in your image.