How to change text color with links?

[Cam1]

I have always wondered how people do this, and have finally decided to ask. Help?

 

[Aradai]

[URL=url here][COLOR="#990000"]go to my tumblr[/COLOR][/URL]

Like that?

 

[Cam1]

[URL=url here][COLOR="#990000"]go to my tumblr[/COLOR][/URL]

Like that?

It worked, thank you! I had tried this in the past but it didn't work for some reason. It disabled everything in my signature, such as screwing up tables that had worked fine before hand. Thank you, though!