It's colourful, albeit dull (5)
I believe the answer is:
khaki
'dull' is the definition.
(khaki is a dull colour)
I cannot understand how the remainder of the clue works.
Can you help me to learn more?
(Other definitions for khaki that I've seen before include "Dull yellowish-brown" , "Dull brownish" , "strong fabric" , "Dullish brown colour" , "Military uniform cloth - colour" .)