System.out.println prints to a DOS window that is always 2 colors (background and text) and a standard font. ---- If you were to print using a graphics object on something that could produce Fonts and colors you would do this:
Create a new Font Object with the desired characteristics (see Java API for Font constructors).
Set the font of your graphics object using the setFont method and your newly-created Font object.
Set the color of your graphics object using the setColor method and a static object of the Color class (see classes Graphics and Color in the Java API as needed).