Fourier transforms are a fundamental tool in signal and image processing, yet, until recently, there was no definition of a Fourier transform applicable to color images in a holistic manner. In this paper, hypercomplex numbers, specifically quaternions, are used to define a Fourier transform applicable to color images. The properties of the transform are developed, and it is shown that the transform may be computed using two standard complex fast Fourier transforms. The resulting spectrum is explained in terms of familiar phase and modulus concepts, and a new concept of hypercomplex axis. A method for visualizing the spectrum using color graphics is also presented. Finally, a convolution operational formula in the spectral domain is discussed.