In recent years, multicolor electrochromic devices (ECDs) have attracted much attention due to their application potential for rich color similar to RGB mode. Although organic electrochromic (EC) materials are widely used in multicolor electrochromism because of their multicolor properties, remarkable weatherability remains challenging. Inorganic EC materials especially transition metal oxide are particularly attractive for excellent weatherability in ECD fabrication. Moreover, by selection of electrolytes, better ionic transfer efficiency can be rendered in the EC process. Although the morphology regulation of the EC film and the selection of electrolytes in the ion transmission layer play important roles in optimizing EC performance and have been extensively studied, a systematic and comprehensive review is lacking. In this review, the morphology regulation of the EC film and selection rules of electrolytes in the multicolor ECDs is focused, and the advantages and disadvantages of existing ways are discussed. The current application of multicolor ECDs is also outlined and it is hoped that this review can contribute some inspiration to designing and improving multicolor ECDs.