pinks and purples?

[grizzlebutt]

seeing alot of people trading or selling this stuff. what is pinks and purples? is it the color of the text in the items name? or the color of the item itself? i assume they are like rares or elite items.

[Jacobysplink]

Pink is rarest, Purple or some people call them blue are second, then green, then orange, grey and white.

[Jespo]

They are the color of the text of the items