Well, after searching high and low, deep and wide, it appears that the acceptance of red, green and gold as the Christmas colors has both historical and religious origins.
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The Colors of Christmas
The Origin of Christmas Colors
There are two accepted beliefs about the origin of the Christmas colours, red, green and gold. One is based on Christian tradition, and the other based on historical fact.
Since the early part of the historical fact came before the Christian tradition, this will be explained first.
Pre-Christian Historical Basis of the Green Color of Christmas
Long before Christ was born; green has already been considered as a powerful symbol of mystery and life.
People observed that long after other plants have died during the winter, fir trees and holly bushes have remained ever green. So they thought that something magical must be making these trees and bushes survive the harshest of winters. These plants were thus worshipped and feared at the same time. From then on, they have come to be associated with the mystery of life and green became the color of life.