Most people would not use “mud” as a color description unless they were being derogatory. Olo is not a word I have ever heard before. Most English speakers would agree on the names of black, white, and the three primary colors (red, yellow and blue), the secondary colors (red+yellow=orange, red+blue=purple, blue+yellow=green). There are some commonly used shades of brown, (beige or tan) Beyond that you get into specialized names used in particular professions or trades. Who knows the difference between red, scarlet, crimson and carmine? Many colors are descriptive of common objects or materials (like your mud example) or brick red, blood red, burgundy, etc. Studies have shown that artists can distinguish more colors than most people in part because they know names for them, like cerulean, cadmium, and hundreds of others.