I missed some “s in my code, typed it here and there’s not syntax checking. It should have been
$colors = get_field('name_of_color_field_here');
if ($colors) {
foreach ($colors as $color) {
?><div style="background-color: <?php
echo $color['value']; ?>" title="<?php
echo $color['label']; ?>"></div><?php
}
}