yes you may color it.. so long as you give proper credits to Freddy and what not, and acknowledge those in the picture..
here some links to everyone's characters for a reference..
Tyrone ->
[link]BJ ->
[link]Mary ->
[link]Freddy ->
[link]and me.. ->
[link] or this
[link]Have fun my friend... one of these day i plan to color it myself..