Bluelined goatfish (Upeneichthys lineatus) rapidly change their body colour from a white horizontally banded pattern to a seemingly more conspicuous vertically banded red pattern, often when foraging. Given the apparent conspicuousness of the pattern to a range of observers, it seems unlikely that this colour change is used for camouflage and instead may be used for communication/signalling. Goatfish often drive multispecies associations, and it is possible that goatfish use this colour change as a foraging success signal to facilitate cooperation, increase food acquisition, and reduce predation risk through a ‘safety in numbers’ strategy. Using a novel approach, we deployed 3D model goatfish in different colour morphs—white without bands, white with black vertical bands, and white with red vertical bands—to determine whether the red colouration is an important component of the signal or if it is only the vertical banding pattern, regardless of colour, that fish respond to as an indicator of foraging success. Use of remote underwater video allowed us to obtain information without the influence of human observers on the communities and behaviours of other fish in response to these different colours exhibited by goatfish. We found that conspecifics were more abundant around the black- and red-banded model fish when compared with the white models. Conspecifics were also more likely to forage around the models than to pass or show attraction, but this was unaffected by model colour. No difference in the abundance and behaviour of associated heterospecifics around the different models was observed, perhaps due to the static nature of the models. Some species did, however, spend more time around the red- and black-banded fish, which suggests the change in colour may indicate benefits in addition to food resources. Overall, the results suggest that the body colour/pattern of U. lineatus is likely a signalling tool but further work is required to explore the benefits to both conspecifics and heterospecifics and to further determine the behavioural functions of rapid colour change in U. lineatus.