Above left and middle is the RAZR M & right is the RAZR HD.
Earlier this month we shared a rumor that Motorola could be releasing an electric blue colored RAZR HD and RAZR M at some point in the future. That point has converged with the present. Verizon just officially announced the two blue devices and they are already up for sale on their website. Other than the change in color, the specs are identical to previous models of the phones. The blue RAZR M is FREE on a new contract and the blue RAZR HD is $99.99 on a new contract.
Just to be clear, the blue RAZR HD only has a thin strip of blue surrounding the bezel, but the rest of it is styled just like previous models (black and kevlar backing).
Here are a couple of links below in case you want to grab one.
Thanks for the tip, MandyMakesApps!
Source: Verizon - Blue Moto Droid RAZR HD & Blue Moto Droid RAZR M