A car’s livery is the unique paint scheme, combined with Sponsorship provides opportunities for companies to partner with F1, exposing their brands to millions of viewers while providing necessary funding... There's more..., that becomes the team’s identifier on track.
Teams may vary their livery over the course of a season, to reflect key events (like an anniversary), track specific sponsors or support a cause.
Prior to 1968, Formula 1 is the pinnacle of open-wheel, single-seater car racing and arguably the highest level of any motorsport globally. Also... There's more... allocated a colour to each country.