I know how to make floating text with command blocks ( /summon armor_stand ~ ~ ~ {CustomName:"Name",Invulnerable:1,NoGravity:1,Invisible:1,CustomNameVisible:1} )

But how can I add color to them? I see bigger / more popular servers have colored text

Also, side question, how do I add a new line to the text? Other servers have multiple lines of text put onto one entity