Color is one of the vital components of product design and the choice of color combination is a critical factor that affects consumer reaction and purchase decisions. However, the impact of traditional colors on color extraction and product design has seldom been studied. The purpose of this study is to discover suitable colors from traditional patterns to create color schemes that will be used in the design of children’s products. Colors were extracted from five major traditional ornaments obtained from Turkmenistan’s national carpets, each representing one of the main Turkmen tribes, using tools like Photoshop, Adobe Color, and EasyRGB, with the objective of investigating psychological-emotional attachment, reaction, and attitudes towards the colors obtained. This initial extraction provided 124 color data points. Initially, extracted colors were refined and used to develop novel color schemes by two independent survey studies. The first survey, based on a sample of 104 parents of preschool children, identified colors that have a positive emotional effect on consumer preferences and provided the basis to develop color schemes. As a result, 25 colors were identified for use in developing 14 color schemes. The second survey, based on a sample of 48 parents of preschool children, identified which color schemes have an attraction for consumers. The survey indicated that 11 out of these 14 schemes were highly favored by the respondents. Based on these results, this study proposed new color schemes for children’s products, extracted from traditional patterns of Turkmenistan and aligned with the psychological perception of the consumers.